S.Raj, Narchison, and Boby are partners sharing profits in the ratio of 2:2:1, Whose ledger accounts on 31.03.06 reveal the following balances.
The firm dissolved on the above date.
1. During the years S.Raj withdraw from Bank Rs. 6,000 for his personal purpose which has not been brought into the records.
2. Rs. 10,000 was realised on account of unrecorded investments which was totally utilised for a liability on account of a claim payable to customers and the balance has been paid in cash.
3. Fixed Assets realised more than 10% of book value.
4. Sundry debtors could be collected only to the extend of 90% of the book value.
Prepare necessary accounts.
