The capital of 3 partners are 20000, 30000and 40000 respectively and there personnel assets are 2000,3000and 4000 find the - Accountancy - Accounting for Partnership Basic Concepts

Question

The capital of 3 partners are?20000,?30000and ?40000 respectively
and there personnel assets are?2000,3000and 4000 find the extent of
their liability

Komal Rani · Accepted Answer

Dear Student
As we know Partners have unlimited liability and if there is need
they have to introduce their private property too in the firm for
payment of Outsiders liability in case there are insufficient funds
in the firm
So, total liability of all the 3 partners is 22000, 33000,44000
Regards

The capital of 3 partners are?20000,?30000and ?40000 respectively and there personnel assets are?2000,3000and 4000.find the extent of their liability