A, B and C are partners in a firm sharing profits and losses in the ratio 2:2:1. TheiTheir balance sheet as at 31st March, 2018 was as follows -
Balance Sheet of A, B and C as at 31st March, 2018
|Capitals :||Cash at Bank||300000|
|A 750000||Sundry Debtors 195000|
|B 300000||Less - Bad Debts 5000||190000|
On the above date, they dissolved the firm and following amt.s were realized :
Fixed Assets - ₹675000
Stock - ₹339000
Debtors - ₹135000
Creditors were paid ₹185000 in full settlement of their claim.
Expenses on realisation amounted to ₹19000.
Pass the necessary journal entries on the dissolution of the firm
Plz anyone help me out with this question. . .