Question : A, B and C  were partners in a firm sharing profits in the ratio of 2:2:1.

The firm closes its books on 31st March, every year. On 31-12-2015 C died. On that date, his Capital account showed a credit balance of Rs.3,80,000 and Goodwill of the firm was valued at Rs. 1,20,000. There was a debit balance of Rs.50,000 in the Profit & Loss A/c.

C’s share of profit in the year of his death was to be calculated on the basis of the average profit of the last five years. The average profit for the last five years was Rs.75,000.
Q. Amount due to C  transferred to his executors’ account will be -----------

Option 1: 4,00,000

Option 2: RS 4,05,250

Option 3: Rs 4,05,000

Option 4: None of the above

Question : On the dissolution of a firm, the partners' capital accounts balance was Rs 63,000; the creditor's balance was Rs 12,000 and the profit & loss account debit balance was Rs 7,500. Profit on the realisation of assets was Rs 7,800. The total amount realised from assets was______.

Option 1: Rs 67,500

Option 2: Rs 75,000

Option 3: Rs 75,300

Option 4: Rs 82,500

Question : On the dissolution of a firm, the partners' capital accounts balance was Rs 63,000; the creditor's balance was Rs 12,000 and the profit & loss account debit balance was Rs 7,500. Profit on the realisation of assets was Rs 7,800. The total amount realised from assets was______.

Option 1: Rs 67,500

Option 2: Rs 75,000

Option 3: Rs 75,300

Option 4: Rs 82,500

Question : On dissolution of a firm, partners' capital accounts balance was Rs. 80,000 creditors balance was Rs. 12,000 and profit and loss account debit balance was Rs. 6,000. Profit on the realisation of assets was Rs. 7,800. The total amount realised from assets was :

Option 1: Rs 81,000

Option 2: Rs 76,800

Option 3: Rs 70,800

Option 4: Rs 93,800

Question : On dissolution of a firm, partners' capital accounts balance was Rs. 80,000 creditors balance was Rs. 12,000 and profit and loss account debit balance was Rs. 6,000. Profit on the realisation of assets was Rs. 7,800. The total amount realised from assets was :

Option 1: Rs 81,000

Option 2: Rs 76,800

Option 3: Rs 70,800

Option 4: Rs 93,800