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Question : On the basis of the following data, what final payment to a partner on the firm's dissolution will be made: Debit balance of Capital Account Rs. 28000. Share of his profit on realisation Rs. 21500; Firm's asset taken by him for Rs. 34000.

Option 1: Rs 31,000

Option 2: Rs 83,500

Option 3: Rs 40,500

Option 4: Rs 60,000


Team Careers360 2nd Jan, 2024
Answer (1)
Team Careers360 16th Jan, 2024

Correct Answer: Rs 40,500


Solution : Answer =  Rs 40,500

              Partner's capital a/c
To bal b/d 28,000 Realisation(profit) 21,500
To Realisation 34,000 Bank b/f 40,500
(assets taken over by partners)      
  62,000   62,000

Hence, the correct option is 3.

 

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