Calculate the following:

1) Vinod, Vijay, and Vishal are partners in a firm, sharing profit & Losses in the ratio 3:2:1. Vishal becomes insolvent and his capital deficiency is ₹ 6,000. Distribute the capital deficiency among the solvent partners.
SOLUTION
Here, capital deficiency of ₹ 6000 is to be distributed among continuing partners in their profit and loss sharing ratio. i.e. 3:2
Share of deficiency for Vinod = 6,000 x3/5 = ₹ 3,600
Share of deficiency for Vijay = 6,000 ×2/5 = ₹ 2,400
Vinod and Vijay will bear ₹ 3,600 and ₹ 2,400 of Vishal’s capital deficiency.

2) Creditors ₹ 30,000, Bills Payable ₹ 20,000 and Bank Loan ₹ 10,000. Available Bank Balance ₹ 40,000 what will be the amount that creditors will get in case of all partner’s insolvency.
SOLUTION
Ratio of creditors, Bills payable and Bank Loan = 30,000: 10,000: 10,000 i.e., 3: 2: 1
Amount received by creditors = 3/ (3+2+1) ×40000 
                                                        = 3/6×40000
                                                        = ₹ 20,000.

3) Insolvent Partner Capital A/c debit side total is ₹ 10,000 and the credit side total is ₹ 6,000. Calculate deficiency.
SOLUTION
 Deficiency of insolvent partner
= Debit side total – Credit side total
= 10,000 – 6,000
= ₹ 4,000.

4) Insolvent partners’ capital A/c Debit side is ₹ 15,000 & insolvent partner brought cash ₹ 6,000. Calculate the amount of Insolvency Loss to be distributed among the solvent partners.
SOLUTION
 ₹ 9,000 (15,000 – 6,000) is the amount of insolvency loss to be distributed among the solvent partners.

5) Realisation profit of a firm is ₹ 6,000, partners share Profit & Loss in the ratio of 3: 2: 1. Calculate the amount of Realisation Profit to be credited to Partners Capital A/c.
SOLUTION
Distribution of ₹ 6,000 in 3: 2: 1 ratio
6000 × 3/6 = ₹ 3,000
6000 × 2/6 = ₹ 2000
6000 × 1/6 = ₹ 1000
Amount of realisation profit ₹ 3,000, ₹ 2,000 and ₹ 1,000 is to be credited to Partner’s Capital A/c respectively.