38 :- Raina and Meena were partners in a firm which they dissolved on 31st March, 2025. On this date, Balance sheet of the firm, apart from realisable assets and outside liabilities showed the following:
On the date of dissolution of the firm :
(a) Raina’s loan was repaid by the firm along with interest of Rs 500.
(b) Dissolution expenses of Rs 1,000 were paid by the firm on behalf of Raina.
(c) An unrecorded asset of Rs 2,000 was taken by Meena while Raina paid an unrecorded liability of Rs 3,000.
(d) Dissolution resulted in a loss of Rs 60,000 from the realisation of assets and settlement of liabilities.
You are required to prepare Partner’s Capital Accounts.
Solution :-
