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Question : On dissolution of a firm, partners' capital accounts balance was Rs. 80,000 creditors balance was Rs. 12,000 and profit and loss account debit balance was Rs. 6,000. Profit on the realisation of assets was Rs. 7,800. The total amount realised from assets was :

Option 1: Rs 81,000

Option 2: Rs 76,800

Option 3: Rs 70,800

Option 4: Rs 93,800


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 6th Jan, 2024

Correct Answer: Rs 93,800


Solution : Answer = Rs 93,800

Memorandum Balance Sheet
Capital balance 80,000 Sundry assets(b/f) 86,000
Creditor 12,000 Profit and loss 6,000
  92,000   92,000

Hence, the correct option is 4.

 

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