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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.
By: Aman ProfileResourcesReport error
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