Question : A and B were partners sharing profits and losses as to 7/11th to Amit and 4/11th to Sumit.
They dissolved the partnership on 30th May 2019. As of that date, their capitals were: A Rs. 7,000 and B Rs. 4,000. There were also due on Loan A/c to A Rs. 4,500 and to B Rs. 750. The other liabilities amounted to Rs. 5,000. The assets proved to have been undervalued in the last Balance Sheet and actually realised Rs. 24,000.

Option 1: Loss on realization Rs 2,750

Option 2: Profit on Realization Rs 2,750

Option 3: Profit on Realization Rs 3,000

Option 4: Loss on realization Rs 3,000

Question : B and Y are equal partners of a firm. They decide to dissolve their partnership on 31st March 2019 at which date their value of sundry assets is Rs 1,04,000 and Y's loan is Rs 3,000
(a) The assets realised were: Rs. 80,500( except furniture )
(b) Y took Furniture at Rs. 9,000.
(c) B agreed to accept Rs. 2,500 in settlement of his Loan Account.
(d) Dissolution Expenses were Rs. 2,500.

Profit and loss on realization will be

Option 1: Profit on realization Rs 16,500

Option 2: Loss On realization Rs 16,500

Option 3: Profit on Realization Rs 8,500

Option 4: Loss on Realization Rs 8,500

Question : A, B and C were in partnership sharing profits and losses in the ratio of 2:1:1. They decided to dissolve the partnership. On that date of dissolution, Sundry Assets (including cash Rs. 5,000 ) amounted to Rs. 88,000, assets realised Rs. 80,000 (including an unrecorded asset which realised Rs. 4,000). A contingent liability on account of bills discounted Rs. 8,000 was paid by the firm. The Capital Accounts of A, B and C showed a balance of Rs. 20,000 each.
Question:
Profit/loss on Realization are .....

Option 1: Profit on Realization Rs 11,000

Option 2: Loss on Realization Rs 11,000

Option 3: Profit on Realization Rs 31,000

Option 4: Loss on realization Rs 31,000

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 profit/loss on realization is

Option 1: Profit Rs 21,000

Option 2: Loss Rs 21,000

Option 3: Loss Rs 2,100

Option 4: Profit Rs 2,100

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 : At the time of the dissolution of the firm, the firm's total assets were Rs 10,00,000. Creditors were Rs 2,00,000. Realization Expenses amounted to rs 20,000. Assets realized 20% more than the book value and creditors were paid 5% less. Gain/loss on realization will be.

Option 1: Gain Rs 1,90,000

Option 2: Loss Rs 1,80,000

Option 3: Gain Rs 9,60,000

Option 4: Loss Rs 2,00,000