Question : There are two partners A and B in a firm and their capitals are Rs. 50,000 and Rs. 40,000. The creditors are Rs. 30,000. The assets of the firm realise Rs. 1,00,000. How much will A and B receive or be paid?

Option 1: A's capital account debited Rs 40,000, and credited bank account Rs 40,000

Option 2: B's capital account debited Rs 30,000 and credited bank account Rs 30,000

Option 3: Both 1 and 2

Option 4: None of the above

Question : Equity Share Capital Rs.1,00,000

8% Preference Share Capital Rs.40,000

Reserves and Surplus Rs.60,000

Investments Rs.30,000

Current Assets Rs.70,000

Proprietary Ratio is 0.8: 1

Calculate the value of the fixed assets of the company.

Option 1: Rs. 1,50,000

Option 2: Rs. 2,50,000

Option 3: Rs. 2,00,000

Option 4: Rs. 3,00,000

Question : Equity Share Capital Rs.1,00,000

8% Preference Share Capital Rs.40,000

Reserves and Surplus Rs.60,000

Investments Rs.30,000

Current Assets Rs.70,000

Proprietary Ratio is 0.8: 1

Calculate the value of the fixed assets of the company.

Option 1: Rs. 1,50,000

Option 2: Rs. 2,50,000

Option 3: Rs. 2,00,000

Option 4: Rs. 3,00,000

Question : The profits of the firm for five years were agreed at Rs.40,000; Rs.60,000; Rs. 30,000 (loss); Rs.10,000 (loss); and Rs.90,000 respectively.
Q. Average profit is Rs ---

Option 1: Rs.30,000

Option 2: Rs.1,50,000

Option 3: Rs.40,000

Option 4: Rs.1,00,000

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)