Based on following answer the question.
Meena and Tina are partners in a firm and sharing profit as 3 : 2. They decided to dissolve their firm on March 31, 2017 when their Balance Sheet was as follows:
Balance Sheet Meena and Tina as on March 31, 2017
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Capital | Machinery | 70,000 | |
| Meena 90,000 | Investments | 50,000 | |
| Tina 80,000 | 1,70,000 | Stock | 22,000 |
| Sundry creditors | 60,000 | Sundry debtors | 1,03,000 |
| Bills payable | 20,000 | Cash at bank | 5,000 |
| 2,50,000 | 2,50,000 |
The assets and liabilities were disposed of as follows:
a. Machinery were given to creditors in full settlement of their account and stock were given to bills payable in full settlement
b. Investments were taken over by Tina at book value. Sundry debtors of book value ₹50,000 were taken over by Meena at 10% less and remaining debtors realised ₹51,000.
c. Realisation expenses amount to ₹2,000.
The amount paid/received to from Meena and Tina on account of final settlement is :
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Paid to Meena ₹32,400; paid to Tina ₹21,600
Loss on realisation (from the Realisation Account) = ₹21,000, shared 3 : 2 = Meena ₹12,600, Tina ₹8,400.
Meena: ₹90,000 − ₹45,000 (debtors taken over) − ₹12,600 (loss) = ₹32,400 paid to her
Tina: ₹80,000 − ₹50,000 (investments taken over) − ₹8,400 (loss) = ₹21,600 paid to her
Check from the bank: ₹5,000 + ₹51,000 − ₹2,000 = ₹54,000 = ₹32,400 + ₹21,600
NCERT (2026-27 edition):
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