Subjective Questions on A and B dissolve their partnership Their position as at 31st March 2019 was Particulars nb........... for Commerce ( 11 and 12th) Preparation

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Subjective Questions

A and B dissolve their partnership Their position as at 31st March 2019 was Particulars nb...........

Accountancy ( 12th) Dissolution of Partnership Firm
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    A and B dissolve their partnership. Their position as at 31st March, 2019 was:

    Particulars

    A's Capital

    25,000

    B's Capital

    15,000

    Sundry Creditors

    20,000

    Cash in Hand and at Bank

    750

    The balance of A's Loan Account to the firm stood at 10,000. The realisation expenses amounted to 350. Stock realised 20,000 and Debtors 25,000. B took a machine at the agreed valuation of 7,500. Other fixed assets realised 20,000.

    You are required to close the books of the firm.

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