Question : On the basis of the following data, how much final payment on the firm's dissolution will be made to a partner?
Debit balance of capital account Rs 1,28,000
Share of profit on realization Rs 1,43,000
Firm's liabilities taken over by him 34,000
Firm's assets taken over by him rs 25000
Option 1: Rs 20,000
Option 2: Rs 36,000
Option 3: Rs 24,000
Option 4: None of the above
Answer (1)
20th Jan, 2024
Correct Answer: Rs 24,000
Solution : Answer = Rs 24,000
| Realisation a/c | |||
| To Bal b/d | 1,28,000 | Realisation | 1,43,000 |
| To Realisation | 25,000 | Realisation | 34,000 |
| To Bank(b/f) | 24,000 | (liability) | |
| 1,77,000 | 1,77,000 | ||
Hence, the correct option is 3.
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