29 :- Balance sheet of P, Q and R as at 31st March, 2025, who were sharing profits in the ratio of 5:3:1, was:
The partners dissolved the firm. Assets realised – Stock Rs 23,400; Debtors 50%; Building and Plant and Machinery 10% less than their book value. Creditors were settled for Rs 32,000. There was an outstanding bill of electricity Rs 800 which was paid. Realisation expenses Rs 1,250 were also paid.
Prepare Realisation account, Partner’s capital accounts and Bank account.
Solution :-
