Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Suner, Mr. Rehman and Mr. Mouthosam are partners, who share profit in the ratio of 2:2:1. Following is the balance sheet as on March

image text in transcribed
image text in transcribed
Mr. Suner, Mr. Rehman and Mr. Mouthosam are partners, who share profit in the ratio of 2:2:1. Following is the balance sheet as on March 31, 2020. Balance Sheet of Mr. Suncer, Mr. Rehman and Mr. Mouthiosam as on March 31, 2020 Liabilities Amount Assets Amount (OMR) KOMR) Mr. Suneer's capital 5,000 Cash and Bank 2.500 Mt. Rehman's Capital 2,000 Stock 2.500 Mr. Mouthosam's capital 1.000 Furniture 1.000 Reserve fund 2.500 Debtors 2.000 Creditors 2,000 Plant and 4.500 machinery 12,500 12500 They decided to dissolve the business. The following amounts were realized. There was an unrecorded asset of R$ 350, which was taken over by Mr. Rehman at Rs.150. How much amount of unrecorded assets are recorded in the realization account? - o 4 TOSHIBA F10 F11 F12 F8 .85 F & OD 6 7V OX 10 Creditors paid 2% less. How much amount of creditors are recorded in the credit side of realization account? 2 o TOSHIBA 512

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Your Human Resources Department A Step By Step Guide

Authors: John H. McConnell

1st Edition

0814474675, 978-0814474679

More Books

Students also viewed these Accounting questions

Question

Define Management or What is Management?

Answered: 1 week ago

Question

What do you understand by MBO?

Answered: 1 week ago