From the information provided below, calculate various questions asked in questions.

Following is the Balance Sheet of Ashwani and Bharat on March 31, 2024.

Balance Sheet Ashwani and Bharat as on March 31, 2024

The firm was dissolved on that date. The following was agreed transactions took place.

(i) Aswhani promised to pay Mrs. Ashwani's loan and took away stock for ₹8,000.

(ii) Bharat took away half of the investment at 10% less. Debtors realised for ₹38,000. Creditor's were paid at less of ₹380. Buildings realised for ₹1,30,000, Goodwill ₹12,000 and the remaining Investment were sold at ₹9,000. An old typewriter not recorded in the books was taken over by Bharat for ₹600. Realisation expenses amounted to ₹2,000.

Realisation profit of ₹55,980 to be distributed amongst partners is:

Ashwani's capital ₹27,990, Bharat's Capital ₹27,990

The correct answer is option 2- Ashwani's capital ₹27,990, Bharat's Capital ₹27,990.

No information is given so realisation profit will be distributed equally between partners.

Realisation profit = ₹55,980

Ashwani share = 55,980/2
                      = 27,990

Bharat share = 55,980/2
                   = 27,990