Question : In the Settlement Of Varun's ( partner) loan Of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000.
The realization account will be

Option 1: Debited by Rs 30,000

Option 2: Credited by Rs 30,000

Option 3: Debited by Rs 50,000

Option 4: Credited by Rs 50,000

Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000.
Partner capital account will be---------

Option 1: Credited by Rs 50000

Option 2: Debited by Rs 50000

Option 3: Debited by Rs 25000

Option 4: None of the above

Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000.
Partner capital account will be---------

Option 1: Credited by Rs 50000

Option 2: Debited by Rs 50000

Option 3: Debited by Rs 25000

Option 4: None of the above

Question : A debtor of Rs 31,000 agreed to pay the dissolution expenses which were Rs 30,000 in full settlement of his debt. Choose the correct option.

Option 1: debited cash account Rs 31,000 and credited realization account Rs 31,000

Option 2: debited realization account rs 30,000 and credited bank account rs 30,000

Option 3: No entry required

Option 4: debited cash account Rs 1000 and credited realization account Rs 1000

Question : A debtor of Rs 31,000 agreed to pay the dissolution expenses which were Rs 30,000 in full settlement of his debt. Choose the correct option.

Option 1: debited cash account Rs 31,000 and credited realization account Rs 31,000

Option 2: debited realization account rs 30,000 and credited bank account rs 30,000

Option 3: No entry required

Option 4: debited cash account Rs 1000 and credited realization account Rs 1000