Practicing Success
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
The assets and liabilities were disposed off as follows: a. Machinery were given to creditors in full settlement of their account and stock were given to bills payable in full settlement |
The amount paid/received to from Meena and Tina on account of final settlement is : |
Paid to Meena ₹32,400; received from Tina ₹21,600 Paid to Meena ₹21,600; paid to Tina ₹32,400 Paid to Meena ₹32,400; paid to Tina ₹21,600 Received from Meena ₹32,400; from Tina ₹21,600 |
Paid to Meena ₹32,400; paid to Tina ₹21,600 |
The correct answer is Option (3) - Paid to Meena ₹32,400; paid to Tina ₹21,600. Realisation Account
PARTNER'S CAPITAL ACCOUNT
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