43 :- A, B and C started business on 1st April, 2024 with capitals of Rs 1,00,000; Rs 80,000 and Rs 60,000 respectively sharing profits (losses) in the ratio of 4:3:3. For the year ended 31st March, 2025, firm incurred loss of Rs 50,000. Each of the partners withdrew Rs 10,000 during the year.
On 31st March, 2025, the firm was dissolved, the creditors of the firm stood at Rs 24,000 on that date and Cash in hand was Rs 4,000. The assets realised Rs 3,00,000 and creditors were paid Rs 23,500 in full settlement of their claims.
Prepare Realisation Account and show your workings clearly.
Solution :-
