Q2098
A, B and C who are partners had a credit balance of Rs. 5,000, Rs. 10,000 and Rs. 20,000 respectively in their capital accounts when the firm was dissolved and the assets disposed off piecemeal. If in the first instalment the realisation is Rs. 10,000 and the Garner Vs. Murray rule is applicable, the distribution among the partners will be:
A.
Rs. 3,333, Rs. 3,333, Rs. 3,334
AnswerB.
Rs. 1,667, Rs. 3,333, Rs. 5,000
C.
Rs. 1,429, Rs. 2,857, Rs. 5,714
D.
Rs. 1,500, Rs. 3,000, Rs. 5,500
Answer: Option A
Solution
Answer: Option A
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