The following is the Balance Sheet as on Mar 31, 2010 of a firm Capitals of the
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The following is the Balance Sheet as on Mar 31, 2010 of a firm
Capitals of the partners are fixed by the deed, profits and losses are shared equally. The business is closed due to loss. The assets, except the bank balance, realised net Rs 1,15,000. R is insolvent and realisation expenses amounted to Rs 1,560. Show the final realisation and division amongst the partners. Apply Garner vs. Murray rule.
Related Book For
Cost Management A Strategic Emphasis
ISBN: 978-0077733773
7th edition
Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins
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