Question

Amit, Sumit and Karan are partners, sharing profits and losses in the ratio of 2:2:1. After dissolving partnership and realisation of Assets their Balance Sheet was as follows:

liabilities :
capital a/cs :
amit 17,000
sumit 3,000
karan - 1,500
assets :
cash : 6,500
loss on realisation : 15,000
total amount : 21,500


show what amount will be received by each partner assuming that karan became insolvent and only rs. 500 received from him . prepare necessary accounts by garner vs. Murray decision
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Answer 1

Answer:

dissolving partnership and realisation of Assets their Balance Sheet was as follows:

liabilities :

capital a/cs :

amit 17,000

sumit 3,000

karan - 1,500

assets :

cash : 6,500

loss on realisation : 15,000

total amount : 21,500

show what amount will be received by each partner assuming that karan became insolvent and only rs. 500 received from him . prepare necessary accounts by garner vs. Murray decision

Answer 2

Answer:

answer is 21000

Explanation:

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