Question : At the time of dissolution of a firm, Creditors are Rs.40,000, Partners' capital is Rs.2,00,000; Cash Balance is Rs.20,000, and other assets are realized Rs.2,00,000. Profit/Loss in the realization account will be

Option 1: 60,000 (Loss)

Option 2: 40,000 (Loss)

Option 3: 20,000 (Profit)

Option 4: 20,000 (Loss)

Question : At the time of dissolution of the firm, outsiders liabilities are Rs 3,50,000. Firm's capital is Rs 6,00,000. Cash balance is rs 50,000. Other assets realized Rs 7,50,000. Profit / loss in the realization account will be .

Option 1: 1,50,000 ( Gain )

Option 2: Rs 2,00,000 (gain )

Option 3: Rs 2,00,000 (loss)

Option 4: Rs 1,50,000 (loss )

Question : At the time of dissolution of the firm, outsiders liabilities are Rs 3,50,000. Firm's capital is Rs 6,00,000. Cash balance is rs 50,000. Other assets realized Rs 7,50,000. Profit / loss in the realization account will be .

Option 1: 1,50,000 ( Gain )

Option 2: Rs 2,00,000 (gain )

Option 3: Rs 2,00,000 (loss)

Option 4: Rs 1,50,000 (loss )

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

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