question_answer

Ram and Shyam are partners sharing profits in the ratio of 3 : 2. Mrs Ram has given a loan of Rs. 4,00,000 to the firm and the firm also obtained a loan of Rs. 2,00,000 from Shyam. The firm was dissolved and its assets were realised for Rs. 5,00,000. State the order of payment of Mrs Ram's loan and Shyam's loan with reason, if there were no other creditors of the firm.

Answer:

Not Available