Zitkala-Sa’s life reflects the struggles of Native Americans who faced oppression and cultural erosion. Her hair being forcibly cut symbolized the loss of identity and humiliation imposed by colonial practices. She was subjected to the oppressive forces of American education and culture, where she was stripped of her cultural identity, symbolized by her “shingled” hair and loss of autonomy.
Manav and Namit were partners in a firm sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2024 was as follows:
Liabilities | Assets | ||
---|---|---|---|
Capitals: | Machinery | ₹8,00,000 | |
Manav | ₹4,00,000 | Investments | ₹5,00,000 |
Namit | ₹6,00,000 | Debtors | ₹12,00,000 |
Bank Overdraft | ₹9,00,000 | Stock | ₹3,00,000 |
Creditors | ₹10,00,000 | Cash in Hand | ₹1,00,000 |
Total | ₹29,00,000 | Total | ₹29,00,000 |
The firm was dissolved on the above date and the following transactions took place:
[(i)] Stock was given to creditors in full settlement of their account.
[(ii)] Investments were taken over by Manav at 120% of book value.
[(iii)] Bad debts amounted to ₹ 2,00,000.
[(iv)] Machinery was realised at 50% discount.
[(v)] Realisation expenses amounted to ₹ 1,00,000 which were paid by Namit.
Prepare Realisation Account.