Question

Sanjay and Veneet are partners sharing profits and losses in the ratio of 3:2. On
31.3.2018 their Balance Sheet was as follows:
Balance Sheet as on 31.3.2018
Assets
₹
Liabilities
spitals :
Plant
90,000
60,000
Debtors
Sanjay
1,50,000
1.20,000
32,000
Furniture
Vineet
2,70,000
80,000
30,000
Stock
Creditors
60,000
70,000
Investments
Bilis Payable
Bills Receivable
36,000
32,000
3,80,000
Cash in hand
3,80,000
81​

Answer 1

1. on the abve date the firm was dissolved.
2. sanjay as to realuse the assets.And he had to receive 6%commission on the assets.
3. expect cash he as to bear all expenses of realisation.

Answer 2

Explanation:

1. we should calculate commission to sanjay

2.calculate amount payable to creditors