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in Dissolution of Firm by (63.4k points)
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A, B and C are partner sharing profits in 5:3:2 ratio. Business was dissolved on 31st March, 2008 on that date Balance Sheet was as under :

Amount realized from Machine Rs 50,000 and from stock Rs 36,000. Motor car was taken by B in Rs 24,000. Realized from debtors Rs 40,000. Deficiency of capital of any partner will bear by remaining partners in their profit sharing ratio. A became insolvent, not any amount can received from A. Prepare necessary accounts.

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by (63.7k points)
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Realisation Account

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