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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


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 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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