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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
Less: Provision for Doubtful Debts
The following additional information is given:
a The Investments are taken by Vinod for 5,000 in settlement of his loan
Assets realised as follows:
c Expenses on realisation amounted to 2,000.
Close the books of the firm giving relevant Ledger Accounts.
By: Aman ProfileResourcesReport error
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