2018
Question : Mohan, one of the partners was to receive 2% of the value of net assets realized as remuneration for completing the dissolution work and was to bear realization expenses . realization expenses Rs 2,500 paid by mohan . The assets ( excluding cash at bank Rs 7,500) were realized were realized for Rs 3,75,000 and cash paid to outsiders liabilities amounted to Rs 1,00,000. Realization account for remuneration to Mohan is to be debited with
Option 1: Rs 5,650
Option 2: Rs 7,500
Option 3: Rs 5,500
Option 4: Rs 6,500
Correct Answer: Rs 5,650
Solution : Answer = Rs 5,650 Net assets realised=3,75,000+7,500-1,00,000=2,82,500 Remuneration=2,82,500×2%=Rs 5,650. Hence, the correct option is 1.
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The candidate mudt have passed class xii with minimum 50% marks with physics, chemistry and biology along with English subject.
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