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Particulars Rita Geeta Ashish Particulars Realisation (Loss) 57.98538.657 19,328 Balance b/d Bank 39.885 18,010 14.005...

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Particulars Rita Geeta Ashish Particulars Realisation (Loss) 57.98538.657 19,328 Balance b/d Bank 39.885 18,010 14.005 General Reserve Realisation Rita Geeta Ashish 80,000 50,000 30,000 10,000 6,667 3,333 7.870 97,870 56667 33333 97870 56,667 33,333 Cash Account Dr. Cr. Particulars Amount Q10 : Anup and Sumit are equal partners in a firm. They decided to dissolve the partnership on December 31, 2006. When the balance sheet is as under: Balance Sheet of Anup and Sumit as on December 31, 2006 Amount Amount Liabilities Sundry Creditors Reserve fund Loan Capital Anup Sumit Rs Assets 27.000 Cash at bank 10,000 Sundry Debtors 40,000 Plants Stock 60,000 Lease hold land 60,000 1,20,000 Furniture Rs 11,000 12.000 47,000 42.000 60,000 25,000 n39 | 1,97,000 1.97,000 The Assets were realised as follows: : Lease hold land Furniture Stock Plant Sundry Debtors Rs 72.000 22.500 40,500 48,000 10,500 The Creditors were paid Rs 25,500 in full settlement. Expenses of Realisation amount to Rs 2,500. Prepare Realisation Account, Bank Account, Partners Capital Accounts to close the books of the firm

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