23 :- A, B and C were partners sharing profits and losses in the ratio of 2:2:1. Their Balance Sheet as at 31st March 2018 was as follows :
On the above date they dissolved the firm and following amounts were realised :
Fixed Assets Rs 6,75,000; Stock Rs 3,39,000; Debtors Rs 1,35,000; Creditors were paid Rs 1,85,000 in full settlement of their claim. Expenses on Realisation amounted to Rs 19,000.
Pass the necessary Journal entries on the dissolution of the firm.
Solution :-
