Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
286 views
in Reconstitution of a Partnership Firm – Retirement/Death of a Partner by (25.6k points)
closed by

Debee, Sedee and Nedee are in partnership, who were sharing profits in the ratio of 3:2:1. On 31.03.05, Nedee left the firm as per agreement. The following details are available. 

Balance Sheet:

1. Depreciate fixed assets @10%. 

2. Only General Reserve is to be credited to the extent of Nedee’s share through capital adjustment of the partners. 

3. Receivables are sold to a debt collection agency at Rs. 5,400/- 

Nedee’s accounts are to be settled soon either by paying o or bringing in necessary cash as the case may be. Prepare the necessary a/c to show the amount due to Nedee.

1 Answer

+1 vote
by (27.3k points)
selected by
 
Best answer

Capital A/c's

Amount to be brought in by Nedee is Rs. 5,800.

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

...