Practicing Success
At the time of firm's dissolution, the bank balance was Rs 80,000, after paying off all the other liabilities except the followings- |
₹50,000 to Shikha ₹50,000 to Diksha ₹60,000 to Shikha ₹80,000 to Shikha |
₹60,000 to Shikha |
According to Partnership Act 1932 the expenses will be paid off in the following order at the time of dissolution- |