Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

Be a Winner

520 views 1 replies

M. N. JHA

8316 Points Joined June 2009

The winner is always part of answer. The loser in always part of problem. The winner is always has a programme. The loser always has an excuse. The winner sees an answer in every problem. The loser sells a problem in every answer. The winner sees a green near every sand trap. The loser sees two or three sand trap near every green. The winner says may be difficult but its possible. The loser says it may be possible but is too difficult.

Replies (1)

Hem Chandra Upadhay

Student

67 Points Joined July 2009

Q. A, B, & C are partners, sharing profit in equal ratio there balance sheet as on 31-03-2006----

Liabilities:- Bank OD A/c (secured against stock) 75000 Loan A/c (Secured against machinery) 125000 Creditors 100000 Capital A 100000 B 50000 C 15000 Total 465000

Assets:- Cash 10000 Stock 125000 Debtor 85000 Machinery 200000 P/L A/c 45000 Total 465000 The firm dissolved on that date

Adjustment:- 1 Stock was taken by the banker and it realised Rs. 100000 and bank paid back Ts.20000 after recovering its overdraft & interest due theron. Prepare Realisation Account, cash account, capital account

2 C is insolvent & give only Rs. 500

Prepair Realisation Account Cash Account Capital Account

please solve its very urgent yaar..

thanks

Hem