Answer Posted / ashwani kumar
1.GARNER VS MURRAY RULE STATES THAT WHEN A FIRM IS
DISSOLVED ANY LOSS IN REALISATION SHOULD BE BRING BY THE
THE SOLVENT PARTNER IN CASH.
2. THE LOSS ARISING DUE TO INSOLVENT PARTNER SHOULD BE
BORNE BY SOLVENT PARTNER IN # FIXED CAPITAL RATIO(WITHOUT
ANY ADJUSTMENT)# IN FLUCTUATING CAPITAL AFTER ADJUSTMENT OF
past accumulated reserves, profits or losses, drawings,
Interest on capital, Interest on Drawing, remuneration to a
partner etc.
3.LOSS DUE TO INSOLVENT PARTNER SHOULD BE BORNE BY SOLVENT
PARTNER HAVING CREDIT BALANCES INSTEAD OF DEBIT BALANCES
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