40 :- A, B and C were partners sharing profits in the ratio of 5:3:2. On 31st March, 2025, A’s Capital and B’s Capital were Rs 30,000 and Rs 20,000 respectively but C owed Rs 5,000 to the firm. The liabilities were Rs 20,000. The assets of the firm realised Rs 50,000.
Prepare Realisation Account, Partner’s Capital Accounts and Bank Account.
Solution :-
