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
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.
Question : On the basis of the following data, how much final payment will be made to a partner on firm dissolution -
Credit balance of capital account of the partner was Rs.50,000. Share of loss on realisation amounted to Rs.10,000 Firm’s liability taken over by him was
Question : On the basis of the following data, how much final payment will be made to a partner on the firm's dissolution?
The credit balance of the capital account is Rs 50,000. Share of loss on realization Rs 10,000. The firm's liability was taken over by him for Rs
Question : Sudhir, a partner, was allowed a remuneration of Rs. 10,000 to carry out dissolution of the firm. He was to bear all expenses of realisation which amounted to Rs. 16,000 were paid by the firm. In this case partner's capital account will be debited by ------------
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