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Question : On the basis of the following data, how much final payment will be made to a partner on firm’s dissolution?
The credit balance of Capital Account of the partner was Rs.50,000. The share of loss on realisation amounted to Rs.10,000.
Firm’s liability taken over by him was for Rs.8,000.

Option 1: Rs.48,000

Option 2: Rs.32,000

Option 3: Rs.40,000

Option 4: Rs.52,000


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: Rs.48,000


Solution : Final Payment to the partner is -

Credit balance of Capital Account  - Share of loss on realisation + Firm’s liability taken over by him i.e.

50000 - 10000 + 8000 =  Rs.48000

Hence the Correct answer is Option 1.

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