Question: Question is attached , the details are Complete in the picture attached Lalitha, Jothi and Kanaga were partners of a firm sharing profit and losses

Question is attached , the details are Complete in the picture

Question is attached , the details are Complete in the picture attached

attached Lalitha, Jothi and Kanaga were partners of a firm sharing profit

Lalitha, Jothi and Kanaga were partners of a firm sharing profit and losses in the ratio of 3:2:3. Set out below was their balance sheet as onMarch 31, 2021. Liabilities & Equity RO Assets RO Bills Payable 80000 Cash in Hand 1875 Sundry Creditors 156250 Cash at Bank 511250 Outstanding Expenses 1250 Debtors 222500 Capital: 0 Stock 278750 Lalitha 500000 Furniture 43750 Jothi 312500 Plant and Machinery 121875 Kanaga 375000 Building 300000 Profits & Loss A/C 55000 0 1480000 1480000 Lalitha retired from the partnership on April 01, 2021 under the following terms: The assets are to be valued as under: 250000 Stock 37500 Furniture 112500 Plant & Machinery 250000 Building

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