Question : If opening capital of partners are Rs 2,00,000, B Rs 3,00,000 and C Rs 4,00,000 and their drawing during the year are A 3000 per month, B Rs 4000 per month and C Rs 5000 per month and creditors are Rs 80,000 . What will be the amount of sundry assets of the firm.
Option 1: Rs 9,36,000
Option 2: Rs 8,36,000
Option 3: Rs 10,00,000
Option 4: None of the above.
Answer (1)
23rd Jan, 2024
Correct Answer: Rs 8,36,000
Solution : Answer = Rs 8,36,000
| Memorandum balance sheet | |||
| Liabilities | Amount | Assets | Amount |
| Capital | S.Assets(b/f) | 8,36,000 | |
| A(2,00,000-36,000) | 1,64,000 | ||
| B(3,00,000-48,000) | 2,52,000 | ||
| C(4,00,000-60,000) | 3,40,000 | ||
| Creditors | 80,000 | ||
| 8,36,000 | 8,36,000 | ||
Sundry assets = 1,64,000+2,52,000+3,40,000+80,000=8,36,000.
Hence, the correct option is 2.
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