Practicing Success
Read the following case study and answer the question: Naina and Nayantara are Partners in a firm, sharing profits in ratio 3 : 2. They decided to dissolve their firm on 31, March 2021 when their Balance-Sheet was as follows:
The Assets and liabilities were disposed off as follows: (a) Machinery was given to creditors in full settlement of their amount and stock was given to Bills Payable in full settlement. |
Net amount payable to Naina is: |
₹ 34,600 ₹ 16,400 ₹ 20,400 ₹ 13,600 |
₹ 34,600 |
The correct answer is Option (1) - ₹ 34,600. Realisation Account
PARTNER'S CAPITAL ACCOUNT
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