Question

(4) Insolvent partners capital A/c debit side total is 1,00,000 and credit side total is * 60,000. Calculate deficiency​

Answer 1

Answer:

the concluded answer is 4000

Answer 2

Introduction:

An account that supplements the balance sheet of a financially troubled business by displaying estimated realization values of assets and their inability to pay creditors' claims, as well as occasionally highlighting the sources of the problem.

Explanation:

Deficiency is computed with the formula given:

Deficiency=Debit side-Credit side

=100,000-60,000

=40,000

Therefore, deficiency is of 40,000 in total.