Q2. Sakina, Sanjana and Sakshi are partners in the firm ‘ SSS Stores’ sharing Profits and Losses in the ratio of 3:2:1 respectively.

On 31st March 2018, they decided to dissolve the firm when their Balance Sheet (10)

was as under.

Balance Sheets as on 31st March 2018.

Liabilities Amount

₹

Assets Amount

₹

Creditors 28,800 Building 1,02,000

Bills Payable 21,600 Machinery 73,000

Capital A/c’s Motor Car 1,67,600

Sakina 2,27,160 Goodwill 45,600

Sanjana 1,44,000 Investment 62,400

Sakshi 1,08,000 Debtors 30,600

Stock 45,000

Bank 3,360

5,29,560 ​