Question

# The following condensed balance sheet is for the partnership of Adel, Bahi, and Rani, who share...

The following condensed balance sheet is for the partnership of Adel, Bahi, and Rani, who share profits and losses in the ratio of 4:3:3, respectively:
Assets Liabilities & Capital
Cash \$100,000 Liabilities \$150,000
Other Assets 300,000 Adel, Capital 40,000
Bahi, Capital 180,000
Rani, Capital 30,000
Total Assets \$400,000 Total Liabilities & Capital \$400,000
The partners agreed to dissolve the partnership after selling the other assets for \$180,000. On dissolution of the partnership, B should receive
Select one:
a. \$0.
b. \$130,000.
c. \$40,000.
d. \$60,000.

For calculation of this sum we need to prepare the following A/c

Realisation A/c

Particulars Amount Particulars Amount

Assets 300000 Liabilities 150000

Cash(Liability

Realised) 150000 Cash(Assets

Realised) 180000

Loss on

Realization 120000

A:48000

B:36000

R:36000

Total 450000 Total 450000

Partners Capital A/c

Particulars A B R Particulars A B R

loss

(Realization) 48K\$ 36K\$ 36K\$ Balance B/f 40K\$ 180K\$ 30K

Balance c/f - 144K\$ - Current A/c 8K\$ 6K\$

Total 48K\$ 180K\$ 36k\$ Total 48k\$ 180K\$ 36k

B should Receive on the date of dissolution

B's Capital 144000\$

Less: A's current A/c(debit balance) 8000\$

Less:R's current A/c (debit balance) 6000\$

B'S Receivable Amount 130000\$

Conclusion:The Answer is Option b. \$130000

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