(35) Anil, Sunil, and Kapil were partners in a firm sharing the ratio of [tex]3:2:1[/tex] respectively. Their Balance Sheet is as follows:

\begin{center}
\textbf{Balance Sheet as on 31st March, 20XX}
\begin{tabular}{|l|r|l|}
\hline \multicolumn{1}{|c|}{\textbf{Liabilities}} & \textbf{Amt. (₹)} & \multicolumn{1}{|c|}{\textbf{Assets}} \\
\hline
Creditors & 28,000 & Goodwill \\
Bills Payable & 9,000 & Building \\
Reserve Fund & 6,000 & Machinery \\
Capital: & & Stock \\
Anil & 20,000 & Debtors \\
Sunil & 15,000 & \quad (-) R.D.D. \\
Kapil & 2,000 & Furniture \\
& & Cash at Bank \\
& & Cash in Hand \\
& & Profit and Loss Account \\
\hline
\end{tabular}
\end{center}

Question

nomeshmyana5 nomeshmyana5

08-08-2024
Business

Answered

(35) Anil, Sunil, and Kapil were partners in a firm sharing the ratio of [tex]3:2:1[/tex] respectively. Their Balance Sheet is as follows:

\begin{center}
\textbf{Balance Sheet as on 31st March, 20XX}
\begin{tabular}{|l|r|l|}
\hline \multicolumn{1}{|c|}{\textbf{Liabilities}} & \textbf{Amt. (₹)} & \multicolumn{1}{|c|}{\textbf{Assets}} \\
\hline
Creditors & 28,000 & Goodwill \\
Bills Payable & 9,000 & Building \\
Reserve Fund & 6,000 & Machinery \\
Capital: & & Stock \\
Anil & 20,000 & Debtors \\
Sunil & 15,000 & \quad (-) R.D.D. \\
Kapil & 2,000 & Furniture \\
& & Cash at Bank \\
& & Cash in Hand \\
& & Profit and Loss Account \\
\hline
\end{tabular}
\end{center}

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-08-08T13:56:21-04:00

To solve this question, we need to calculate the total liabilities from the balance sheet, considering the amounts provided for each item.

### Step-by-Step Solution:

1. Identify the Liabilities:
- Creditors: ₹28,000
- Bills Payable: ₹9,000
- Reserve Fund: ₹6,000
- Capital from Partners:
- Anil: ₹20,000
- Sunil: ₹15,000
- Kapil: ₹2,000

2. Sum of Liabilities:
We need to sum up all the above liabilities to get the total liabilities.

- Total Liabilities = Creditors + Bills Payable + Reserve Fund + Capital (Anil + Sunil + Kapil)

- Plugging in the provided amounts:
- Total Liabilities = ₹28,000 + ₹9,000 + ₹6,000 + ₹20,000 + ₹15,000 + ₹2,000

3. Calculate the Total:
- Total Liabilities = ₹28,000 + ₹9,000 + ₹6,000 + ₹20,000 + ₹15,000 + ₹2,000
- Total Liabilities = ₹80,000

Therefore, the total liabilities from the balance sheet amount to ₹80,000.

This step-by-step process closely follows the given information from the balance sheet and aggregates the amounts listed under liabilities to provide the total sum.