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f The balance sheet of Mr. Kamal and Mr. Kashif who shared profits and losses in the ratio of 23 is as follows on December
f The balance sheet of Mr. Kamal and Mr. Kashif who shared profits and losses in the ratio of 23 is as follows on December 31, 2020:- Balance Sheet of Mr. Kamal and Mr. Kashif as on March 31, 2020 Liabilities Amount Assets Amount (OMR OMR) sion 42,500 cash and Bank 50,500 Mr. Kamal Capital Mr. Kashif Capital Sundry creditors 21,500 Stock 18,500 58,000 Sundry debtors: 21500 20,000 Less: Provision for doubtful debts 1500 Reserve fund 23,500 Fixed assets 56,500 145,500 125,500 The firm was dissolved on December 31, 2020. Close the books of the firm with the following information: Debtors realized at a discount of 5% Stock realized at OMR 18,000 Fixed assets realized at OMR 62,000, IV. Realization expenses of OMR 2.500, Creditors are paid in full a. How much amount will be the balance of realization account? HIL. V. . IL We event Debtors reaired at a discount of 5% Stock realized at OMR 15,000 Faced assets tesized at OMR 62.000, Realization expenses of OMR 2.500 Creditors are paid in full 1. How much amount will be the balance of resilietain account? IV. V. b. How much amount will be transferred to Mr. Kamal's Capital account? C. How much amount will be transferred to Mr. Kathit 4 Capta account
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