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Dissolution of partnership firm, sum no 11,

13 Dec 2020 7:41 pm

Following is the Balance Sheet as on 31st March, 2019 of a firm having Three equal partners Priti, Priya and Prachi. – Book Keeping and Accountancy

[6] Dissolution of Partnership Firm – Practical problem – (Balbharati Book Keeping and Accountancy 12th Board Exam)

Practical problem | Q 11 | Page 249

Following is the Balance Sheet as on 31st March 2019 of a firm having Three equal partners Priti, Priya, and Prachi.

Balance Sheets as on 31st March 2019.

Working Notes :

1) Amount paid to loan from sale of machinery = ₹ 18,000

Balance of Loan = 30,000 – 18,000 = ₹ 12,000

(2) ratio of Trade creditors and Loan = 50,000 : 12,000 = 50 : 12 i.e. 25 : 6

(3) Balance of cash available = 10,000 + 67,000 + 3,400 – 18,000 – 2,000

= 80,400 – 20,000 = ₹ 60,400

Amount paid towards loan = (6/31) × 60400 = ₹ 11690.

Amount paid to Trade Creditors = (25/31) × 60400 = ₹ 48710


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