Partners A, B and C running a partnership firm in the name of
M/s. ABC LLC with their capitals of OMR 60,000, OMR 40,000 and OMR
30,000 and an agreed sharing the profits and losses in the ratio of
3:2:1.respectively on 31.3.2020. The firm’s various assets and
liabilities in the books of accounts are –
Particular
OMR
Particular
OMR
Plant
60,000
Bank Overdraft
25,000
Buildings
100,000
Sundry Creditors
100,000
Furniture
25,000
Premises
40,000
Land
70,000
Machinery
40,000
6% Bonds
50,000...