Given below are two statements:
Statement-I: There were sections of Soviet society which felt that Gorbachev should have moved much faster and were disappointed and impatient with his methods.
Statement-II: Communist Party and those who were served by the system felt that their power and privileges were eroding and Gorbachev was moving too quickly.
Simar, Tanvi, and Umara were partners in a firm sharing profits and losses in the ratio of 5 : 6 : 9. On 31st March, 2024, their Balance Sheet was as follows:
Liabilities | Amount (₹) | Assets | Amount (₹) |
Capitals: | Fixed Assets | 25,00,000 | |
Simar | 13,00,000 | Stock | 10,00,000 |
Tanvi | 12,00,000 | Debtors | 8,00,000 |
Umara | 14,00,000 | Cash | 7,00,000 |
General Reserve | 7,00,000 | Profit and Loss A/c | 2,00,000 |
Trade Payables | 6,00,000 | ||
Total | 52,00,000 | Total | 52,00,000 |
Umara died on 30th June, 2024. The partnership deed provided for the following on the death of a partner: