Vinod Vijay and Venkat are partners sharing profits and losses in the ratio of 3 2 1 They decided t...........

Accountancy ( 12th) Dissolution of Partnership Firm

Vinod, Vijay and Venkat are partners sharing profits and losses in the ratio of 3 : 2 : 1. They decided to dissolve their firm on 31st March, 2019, the date on which their Balance Sheet stood as:

Liabilities Amount Assets Amount

Creditors	17,000	Bank		3,500
Bills Payable	12,000	Stock		19,800
Vinod's Loan	5,300	Debtors	15,000
General Reserve	6,000	Less: Provision for Doubtful Debts	1,000	14,000
Capital A/cs:		Investments		4,000
Vinod 25,000		Furniture		10,000
Vijay 11,000 Venkat 8,000	44,000	Machinery		33,000