Bale and yale are equal partners of a firm

Asked by admin @ 12/08/2021 in Accountancy viewed by 558 People

Bale and Yale are equal partners of a firm. They decide to dissolve their partnership on 31st March,2018 at which date their Balance Sheet stood as:

(a) The assets realised were:
Stock ₹ 22,000; Debtors ₹ 7,500; Machinery ₹ 16,000; Building ₹ 35,00.
(b) Yale took over the Furniture at ₹ 9,000.
(c) Bale agreed to accept ₹ 2,500 in full settlement of his Loan Account.
(d) Dissolution Expenses amounted to ₹ 2,500.
Prepare the:
(i) Realisation Account
(ii) Capital Accounts of Partners
(iii) Bale’s Loan Account
(iv) Bank Account.

Answered by admin @ 12/08/2021

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depends on how the political leaders raise the

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statement

Bale and yale are equal partners of a firm

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