Sarthaks Test
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X, Y and Z entered into a partnership and contributed Rs.9,000; Rs.6,000 and Rs.3,000 respectively. They agreed to share profits and losses equally. The business lost heavily during the very first year and they decided to dissolve the firm. After realising all assets and paying off liabilities, there remained a cash balance of Rs.6,000. Prepare Realisation Account and Partners’ Capital Accounts.

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