Question : On dissolution of firm, which item is credited to the realisation account?

Option 1: Realisation expenses paid by partner

Option 2: Balance of reserve fund

Option 3: Amount of unrecorded assets realised

Option 4: Creditor's balance shown in the Balance Sheet

Question : At the time of firm’s dissolution, Balance of General Reserve shown in the Balance Sheet is credited to :

Option 1: Creditor’s Account

Option 2: Realisation Account

Option 3: Partner’s Capital Account

Option 4: Profit & Loss Account

Question : On dissolution of a firm, firm's Balance Sheet total is Rs.77,000. On the assets side of the Balance Sheet items were shown preliminary expenses Rs.2,000; Profit & Loss Account (Debit) Balance Rs.4,000 and Cash Balance Rs.1,800. Loss on realisation was Rs.6,300. Total assets (including cash balance) realised will be

Option 1: 69,200

Option 2: 71,000

Option 3: 64,700

Option 4: 62,900

Question : On dissolution of a firm, firm's Balance Sheet total is Rs.77,000. On the assets side of the Balance Sheet items were shown preliminary expenses Rs.2,000; Profit & Loss Account (Debit) Balance Rs.4,000 and Cash Balance Rs.1,800. Loss on realisation was Rs.6,300. Total assets (including cash balance) realised will be

Option 1: 69,200

Option 2: 71,000

Option 3: 64,700

Option 4: 62,900

Question : On dissolution of a firm, the firm's Balance Sheet total is Rs. 7,70,000. On the assets side of the Balance Sheet items were shown preliminary expenses of Rs. 20,000; a Profit & Loss Account (Debit) Balance of Rs.8000 and a Cash Balance of Rs.18000. Loss on realisation was Rs. 63,000. Total assets (including cash balance) realised will be :

Option 1: Rs 6,61,000

Option 2: Rs 7,10,000

Option 3: Rs 6,47,000

Option 4: Rs 6,29,000