Solution of J.R monga pg -24 Q.6

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Solution of question no.7

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Chapter dissolution illustration 14
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Accounting,it is secondary stage which being where book keeping process end.and book keeping , it is routine in nature does not required any special skill and knowledge.
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Amol and abhijeet where profits and losses in the ratio of 3:2in partenaeship from there balance sheet and 31st,2012was as under
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Solutions

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What is j.r monga
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3. Following is the Trial Balance as at 31.12.20 Particulars Dr. 30,000 10,000 Opening Stock Drawings and Capital Purchases and Sales (Adjusted) Wages Salaries 1,50,000 2,75,000 6,000 20,000 5,000 Import Duty Carriage Inwards Insurance 4,000 5,000 Advertisement 10,000 Furniture 40,000 Bad Debts 5,000 Book Debts 50,000 30,000 Creditors Reserve for Bad Debts 2,000 Loose Tools 25,000 Rent 5,000 8,000 Discount Received Depreciation of Furniture 5,000 5,000 Depreciation of Loose Tools Closing Stock Outstanding Import Duty 30,000 10,000 Premises 70,000 Commission Received 10,000 Cash Balance 20,000 Cash at Bank 5,000 65,000 Adjustments: (1) A customer of 5,000 is also a creditor of 10,000 and create R.B.D.@ 5% pa after writing off further bad debt of 5,000. (u) Depreciate Furniture and Loose Tools @ 25% and by 10,000 respectively and appreciate Premises by 10,000. (iii) Annual Payment are-Salaries 25,000 and Rent 10,000. (iv) Unexpired Import Duty and Insurance are 1,000 each. (v) Sale of Furniture (B.V. NIL) for 3,000 to be accounted for as omitted in the books. (vi) Withdrawn from Bank by the owner for domestic use of 15,000. Prepare the Final Accounts applying Marshalling of Balance Sheet as at 31.12.20
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The following is the statement of affairs of Shri Abdul wahid as on December
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His capital on 31 December 2007 was ,

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