Below is the balance sheet of X & Y who share profits and losses in the ratio of 3:2.

Assets

Buildings $30,000

Cash $26,000

$56,000

Liabilities

Capital:

X $30,000

Y $20,000

$50,000

Creditors $6,000

$56,000

i) Calculate the working capital of the business.

ii) It is decided to dissolve the partnership. The creditors are paid $5 400 in settlement ($600 having been allowed as discount) and the buildings are sold for

$20 000 in cash. How much would Y be paid upon the dissolution of the partnership?