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Case 5. Ansil and Safeer are the partners who share profit in the ratio of 3:2. Following is the balance sheet of the firm as

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Case 5. Ansil and Safeer are the partners who share profit in the ratio of 3:2. Following is the balance sheet of the firm as on 31" March 2020. Balance sheet as on 31" March 2020. Liability Amount Assets Amount Capital Cash at bank 51,500 Ansil 40,500 Furniture 7.500 Safeer 14,500 55,000 Sundry debtors 21,500 Sundry Creditors 48,000 Less provision Reserve fund 13.500 500 21,000 Fixed Assets 36,500 116.500 116,500 The firm was dissolved on 31" March 2020. Close the books of the firm with following Information a) Debtors realized at a discount of 5% b) Furniture realised at OMR 7000 c)Fixed assets realised at OMR 42,000 d) Realisation expense of OMR 1,500 c) Creditors are paid in full You are required to prepare ) Realization account 1.) Partner's Capital account iii) Bank account (5 marks) (3 marks) (2 marks)

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