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
Correct Answer: Rs 40,500
Solution : Answer = Rs 40,500
Hence, the correct option is 3.
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
Question : On the dissolution of a firm, the partners' capital accounts balance was Rs 63,000; the creditor's balance was Rs 12,000 and the profit & loss account debit balance was Rs 7,500. Profit on the realisation of assets was Rs 7,800. The total amount realised from assets was______.
Option 1: Rs 67,500
Option 2: Rs 75,000
Option 3: Rs 75,300
Option 4: Rs 82,500
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