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20. Ashish and Kanav were partners in a firm sharing profits and losses in the ratio of 3:2.On 31st March, 2018their Balance Sheet was as follows:BALANCE SHEET OF ASHISH AND KANAV as at 31st March, 2018inLiabilities₹AssetsTrade CreditorsEmployees' Provident FundMrs. Ashish's LoanKanav's LoanWorkmen's Compensation FundInvestment Fluctuation ReserveCapitals:AshishKanav42,00060,0009,00035,00020,0004,000BankStockDebtorsFurniturePlantInvestmentsProfit and Loss Account35,00024,00019,00040,0002,10,00032,00010,0001,20,00080,0002,00,0003,70,0003,70,000 |
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