send mail to firstname.lastname@example.org mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
Please verify your mobile number
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Refer & Earn
My Abhipedia Earning
Kindly Login to view your earning
Type your modal answer and submitt for approval
Srijan, Raman and Manan were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 31st, March, 2017 their Balance Sheet was as follows:
BALANCE SHEET OF SRIJAN, RAMAN AND MANAN as on 31st March, 2017
Profit and Loss Account
On the above date they decided to dissolve the firm.
a Srijan was appointed to realise the assets and discharge the liabilities. Srijan was to receive 5% commission on sale of assets except cash and was to bear all expenses of realisation.
Assets were realised as follows:
c Investments were realised at 95% of the book value.
d The firm had to pay 7,500 for an outstanding repair bill not provided for earlier.
e A contingent liabillity in respect of bills receivable, discounted with the bank had also materialised and had to be discharged for 15,000. f Expenses of realisation amounting to 3,000 were paid by Srijan.
Prepare Realisation Account, Partners' Capital Accounts and Bank Account.
By: Aman ProfileResourcesReport error
Access to prime resources