33. Arun, Ajay & Vijay are partners sharing profit & losses in the ratio of 3:2:1. Their
sheet as on 31-3-15.
Liabilities
Rs
Assets
Sundry creditors
40,000
Cash at Bank
Rs
1,50,000
Bills payable
30,000
Machinery
40,000
Reserve fund
20,000
Furniture
30,000
Ranga's loan
10,000
Computers
10,000
Bank loan
50,000
Buildings
37,000
Capitals
Bills receivable
15,000
Arun
69,000
Debtors 20,000
17,000
(-) Rdd
3,000
Ajay
Vijay
Ajay's Loan
Total
69,000
Stock
25,000
60,000
Goodwill
30,000
9,000
Profit & Loss a/c
3,000
3,57,000
3,57,000
On the above date, the asset realized was as follows:
a. The assets realized as follows: Buildings realized Rs 45,000, Machinery re
10,000, and Furniture realized 10% less than the book value. Computer is
undervalued by Rs 2,000.
b. Goodwill was taken over by Vijay Rs 40,000.
c. Bills payable was taken over by Arun.
d. There was unrecorded assets investment of Rs 10,000
e. One bill for Rs 2,500 under discount was dishonored and had to be paid b-
f. There was an unrecorded liability of Rs 5,000.
Prepare: Realization a/c, Partners capital a/c & Bank a/c
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