A partnership firm has three partners : X, Y and Z with capitals as X : Rs. 20,000; Y : Rs. 10,000 and Z Rs. 10,000. The creditors amounted to Rs. 20,000 and sundry assets to Rs. 60,000. In dissolution, the assets were realised as follows: 1st instalment Rs.20,000; 2nd instalment Rs. 20,000 and final realisation Rs. 10,000. The partners share profits and losses in the ratio of 3 : 2 : 1. Show the piece-meal distribution of the realisations on —- (i) Surplus Capital Method; (ii) Maximum Loss Method. 31.52 Accounting for Dissolution of the Firm
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