Accounting · Dissolution of Partnership
A partnership firm having partners A and B (both declared insolvent) is going to be dissolved. The total assets available are ₹ 20,000, and outstanding unsecured creditors at that point were P & Q. Dues to P were ₹ 30,000 and Q were ₹ 20,000. The amount of deficiency to be borne is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1P ₹ 0 and Q ₹ 30,000
- 2P ₹ 18,000 and Q ₹ 12,000✓
- 3P ₹ 15,000 and Q ₹ 15,000
- 4P ₹ 30,000 and Q ₹ 0
Correct answer
P ₹ 18,000 and Q ₹ 12,000
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