The firm of LMS was dissolved on 31.3.2018, at which date its Balance Sheet stood as follows:

Question:

The firm of LMS was dissolved on 31.3.2018, at which date its Balance Sheet stood as follows:Partners share profits equally. A firm of Chartered Accountants is retained to realise the assets and distribute the cash after discharge of liabilities. Their fees which are to include all expenses is fixed at ₹1,00,000. No loss is expected on realisation since fixed assets include valuable land and building. Realisations are :The Chartered Accountant firm decided to pay-off the partners in ‘Higher Relative Capital Method’. You are required to prepare a statement showing distribution of cash with necessary workings.