A, B, C and D are accomplices in a firm sharing benefits and misfortunes in the proportion of 4 : 1 : 2 : 3. The following ismthe balance sheet as at March 31st, 2011.
On March 31st, 2011, the firm is broken down. The organization assention gives that the lack of a wiped out accomplice will be borne by the dissolvable accomplices in the proportion of capitals as they stand just before disintegration.
The accompanying courses of action are settled upon:
(i) An is to assume control more than 60% of book obligations at 70% and D is to assume control over the offset at 75%. Further, they are to be permitted Rs. 2,100 and 1,100 individually to cover future misfortunes.
(ii) D is to acknowledge different resources and to pay off the leasers. He is to get 5% gross commission on the sums at long last payable to different accomplices yet to tolerate costs of acknowledgment. He reports the consequences of acknowledgment as takes after:
Different resources acknowledged at a loss of 2% on net gathering and pays of the lenders at a markdown of 30%. Acknowledgment costs add up to Rs. 3,000 yet the same is paid by the firm. B is pronounced indebted and a profit of 20% in a rupee is acknowledged from his estate.Prepare Cash account, Realization Account and Capital Accounts.