44 :- Priya, Komal and Rakhi were in partnership sharing profits and losses in the ratio of 2:1:1. They decided to dissolve the partnership. On that date of dissolution, Sundry Assets (Including cash Rs 5,000) amounted to Rs 88,000, assets realised Rs 80,000 (including an unrecorded asset which realised Rs 4,000). A contingent liability on account of bills discounted to Rs 8,000 was paid by the firm. The Capital Accounts of Priya, Komal and Rakhi showed a balance of Rs 20,000 each.
Solution :-
