Question : A, B and Cwere partners in a firm. 8 retired and his claim including his capital and share of goodwill was Rs. 1,80,000.There was an unrecorded furniture estimated at Rs. 9,000, half of which was given for an unrecorded liability of Rs. 18,000 in settlement of claim of Rs. 9,000 and remaining half was taken by 8 at a discount of 10% in part satisfaction of his claim. Balance of B's claim was discharged by bank draft. Question: Amount payable to B is
Option 1: Rs 1,80,000
Option 2: Rs 1,78,350
Option 3: Rs 1,74,300
Option 4: None of the above
Correct Answer: Rs 1,78,350
Solution : Answer = Rs 1,78,350
Amount due to B = 1,80,000
(-) Revaluation (loss) = 1650
= 1,78350
Amount due to B = 1,78,350 Hence, the correct option is 2.
Question : A, B and Cwere partners in a firm. 8 retired and his claim including his capital and share of goodwill was Rs. 1,80,000.There was an unrecorded furniture estimated at Rs. 9,000, half of which was given for an unrecorded liability of Rs. 18,000 in settlement of claim of Rs. 9,000 and remaining half was taken by 8 at a discount of 10% in part satisfaction of his claim. Balance of B's claim was discharged by bank draft. Question: Amount paid to B is
Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs. 3,00,000. There was unrecorded furniture valued at Rs. 15,000, half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs. 15,000 and remaining half was given to Y at a discount of 10% in part satisfaction of his claim. Balance of Y's claim was discharged by current date cheque. Question: Amount paid by cheque is
Option 1: Rs 3,00,000
Option 2: Rs 2,97,500
Option 3: Rs 2,97,250
Option 4: Rs 2,90,500
Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs.3,00,000. There was unrecorded furniture valued at Rs. 15,000 , half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs. 15,000 and remaining half was given to Y at a discount of 10% in part satisfaction of his claim. Balance of Y's claim was discharged by current date cheque. Question: Amount payable to Y is
Question : A, B and C are partners in a firm. B retires and his claim including his capital and his share of goodwill is Rs. 6,00,000. There was unrecorded furniture valued at Rs. 30,000, half of which was given to an unrecorded creditor of Rs. 60,000 in settlement of his claim of Rs. 30,000 and the remaining half was given to B at a discount of 10% in part satisfaction of his claim. The balance of B's claim was discharged by the current date cheque. Bank account will be
Option 1: Debited by Rs 5,81,000
Option 2: Credited by Rs 5,81,000
Option 3: Credited by Rs5,73,250
Question : P, A and L are partners in a firm sharing profits and losses in the ratio of 3: 2 : 1 respectively. Angad died and his claim, including Capital and entitlements from the firm including his share of Goodwill of the firm, is Rs. 50,000. After this amount was determined, it was found that there was an unrecorded piece of furniture valued at Rs. 12,000 which had to be recorded. Upon recording this piece of furniture, the revised amount due to A’s executor was determined and settled by giving him this piece of furniture and the balance in cash. Q. Amount Due to A’s executor account will be
Option 1: Rs 48,000
Option 2: Rs 50,000
Option 3: Rs 54,000
Option 4: Rs 46,000
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