39 :- There are two partners Angad and Rman in a firm and their capitals are Rs 50,000 and Rs 40,000. The Creditors are Rs 30,000. The assets of the firm realise Rs 1,00,000.|
How much will Angad and Raman receive ?
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.
41 :- A and B were partners sharing profits and losses as 7/11th to A and 4/11th to B. They dissolved the partnership on 30th May, 2024. As on that date their capitals were: A Rs 7,000 and B Rs 750. The other liabilities amounted to Rs 5,000. The assets proved to have been undervalued in the last Balance sheet and actually realised Rs 24,000.
Prepare necessary accounts showing the final settlement between the partners.
42 :- Ramu, Laxman and Bharat started business on 1st April, 2024 with capitals of Rs 1,00,000, Rs 80,000 and Rs 60,000 respectively sharing profits and losses in the ratio of 4:3:3. For the year ending 31st March, 2025, the firm incurred loss of Rs 50,000. Each of the partners withdrew Rs 10,000 during the year.
On 1st April, 2025, the firm was dissolved. Creditors of the firm stood at Rs 24,000 on that date and cash in hand was Rs 4,000. Assets realised Rs 3,00,000 and creditors were paid Rs 23,500 in settlement of their claims.
Prepare Realisation Account and show your workings clearly.