Question : A and B were partners from 1st April 2018 with capitals of Rs. 60,000 and Rs. 40,000 respectively. They shared profits in the ratio of 3: 2. They carried on business for two years.

In the first year ended 31st March 2019, they earned a profit of Rs. 50,000 but in the second year ended 31st March 2020, a loss of Rs. 20,000 was incurred. As the business was no longer profitable, they dissolved the firm on 31st March 2020. Creditors on that date were Rs 20,000. The partners withdrew for personal use of Rs. 8,000 per partner per year. The assets realised Rs. 1,00,000. The expenses of realisation were Rs. 3,000.
Question:
The value of sundry assets are

Option 1: 1,28,000

Option 2: 11,800

Option 3: 1,18,000

Option 4: None of the above

Question : A and B were partners from 1st April 2018 with capitals of Rs. 60,000 and Rs. 40,000 respectively. They shared profits in the ratio of 3: 2. They carried on business for two years.

In the first year ended 31st March 2019, they earned a profit of Rs. 50,000 but in the second year ended 31st March 2020, a loss of Rs. 20,000 was incurred. As the business was no longer profitable, they dissolved the firm on 31st March 2020. Creditors on that date were Rs 20,000. The partners withdrew for personal use of Rs. 8,000 per partner per year. The assets realised Rs. 1,00,000. The expenses of realisation were Rs. 3,000.
Question:
Final payments made to partners are

Option 1: Paid to A Rs 49,400 , paid to B Rs 27,600

Option 2: Paid to A 27,600 and paid to B 49,400

Option 3: Received from A 49,400 and paid to B 27,600

Option 4: Paid to A 49,400 and received from B 27,600

Question : P, Q and R are partners sharing profits and losses in the ratio of 3: 3: 2. Their respective capitals are in their profit-sharing proportions. On 1st April, 2019, the total capital of the firm and the balance of General Reserve are Rs. 80,000 and Rs. 20,000 respectively. During the year 2019-20, the firm made a profit of Rs. 28,000 before charging interest on capital @ 5%. The drawings of the partners are P-Rs. 8,000; Q-Rs. 7,000; and R-Rs. 5,000. On 31st March, 2020, their liabilities wereRs. 18,000.
On this date, they decided to dissolve the firm. The assets realised Rs. 1,08,600 and realisation expenses amounted to Rs. 1,800.
Question:
Profit/loss on realization are

Option 1: Loss Rs 19,200

Option 2: Profit Rs 19,200

Option 3: Loss Rs 1,920

Option 4: Profit Rs 1,920

Question : A, B and C were partners sharing profits in the ratio of 5: 3: 2. On 31st March, 2020, A's Capital and B's Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000.
Question:
If the loss on realization is Rs. 15,000 The value of sundry assets are realized will be ---

Option 1: Rs 65,000

Option 2: Rs 70,000

Option 3: Rs 50,000

Option 4: Rs 15,000

Question : During the year ended 31st March, 2020, subscriptions received were Rs. 21,00,000. These subscriptions include Rs. 30,000 for the year ended 31st March, 2019 and Rs. 40,000 for the year ending 31st March, 2021. On 31st March, 2020, subscriptions due but not received were Rs. 50,000. The corresponding amount on 1st April, 2019 was Rs. 60,000. Determine the amount that should be credited to Income and Expenditure Account as subscriptions for the year ended 31st March, 2020.

Option 1: Rs 20,55,000

Option 2: Rs 20,50,000

Option 3: Rs 2,05,000

Option 4: Rs 20,35,000