A B and C are partners sharing profits in ratio of 1/2:1/3 and 1/6 respectively. Their balance sheet at 31 march 2016 :
Liabilities. Assets
Creditors 1,60,000. Land&
Provision for 40,000. buildings 4,00,000
legal damages. Computer. 40,000
Expenses owing 10,000. Stock 1,40,0000
Capital a/c: sundry dr 80,000
A 3,40,000. Less:provision 4,000 76,000
B 1,50,000. Cast at bank 1,69,000
C 1,40,000. Advertisement
Expenditure. 15,000
8,40,000. 8,40,000
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