CBSC 12th Accountancy Question Paper 2013 Free Download
CBSC Class 12th Accountancy Question Paper 2013, CBSC Delhi Class 12th (XII) 2013 Accountancy Question Paper CBSC Class XII Accountancy Question Paper 2013 outside Delhi Students Free Download CBSC 12th – XII Accountancy Question Paper for Foreign Students with Answers and Solution 2013 CBSC Board Exam Papers for Class 12 (XII) std CBSC 2013 Accountancy Question Bank with Full Details.
1. X, Y and Z are partners in a firm sharing profits in the ratio of 3 : 2: 1 respectively. The firm was dissolved on 1.3.2013. After transferring assets (other than cash) and third party liabilities to the ‘Realisation Account’ you are provided with the following information:
(i) There was a balance of Rs. 18,000 in the firm’s Profit and Loss Account.
(ii) There was an unrecorded bike of Rs. 50,000 which was taken over by X.
(iii) Creditors of Rs. 5,000 were paid Rs. 4,000 in full settlement of accounts.
Pass necessary Journal Entries for the above at the time of dissolution of firm.