Hema, Rekha & Sushma were in partnership sharing profits & losses in the ratio 4:2:1 respectively.
On 31st March 2020 they decided to dissolve the partnership when their balance sheet stood as follows:
Liabilities Amount Assets Amount
Creditors 40,000 Land and building 35,000
Capitals : Cash 5,000
Hema 60,000 Furniture 45,000
Rekha 40,000 Computer 15,000
Sushma 10,000 Motor vehicle 50,000
Total 1,50,000 Total 1,50,000
Absolute surplus of -
5 points
1. Hema 20,000
2. Rekha 10,000
3. Sushma 10,000
what is currently answer
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Answer:
Liabilities amount assest amount
creditors 40000 land and building 35000
capitals: cash 5000
Hema 60000 furniture 45000
Rekha 40000 computer 1500
Sushma 10000 motor vehicle 50000
total 150000
absolute surplus of five points
Hema 20000
Rekha 10000
Sushma 10000
currently answer is 40000
Explanation:
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