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Mr. Laiq, Mr. Mansoor and Mr. Nadir were partners sharing profits and losses in the ratio of 3:2:1 respectively. They decided to dissolve the firm

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Mr. Laiq, Mr. Mansoor and Mr. Nadir were partners sharing profits and losses in the ratio of 3:2:1 respectively. They decided to dissolve the firm effective as on December 31, 2020. Just before liquidation the firm's position was as follows: Cash Other Accounts Mr.Laig Mr. Mr.Nadir OMR) assets(payable Capital Mansoor Capital OMR) OMR) OMR) Capital OMR) OMR) 140,000 ? 120,000 360,000240,000 120,000 The other assets realized were OMR.460,000/- cash. Liabilities were paid in full. The remaining cash was distributed among the partners. a. How much amount will be the book value of other assets? b. How much amount will be the profit/loss on realization

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