Question : On firm's dissolution, on realisation of patents (which was shown in Balance Sheet) will be credited to:

Option 1: Cash A/c

Option 2: Profit and loss account

Option 3: Realization account

Option 4: None of the above

Question : On firm's dissolution, on realisation of patents (which was shown in Balance Sheet) will be credited to:

Option 1: Cash A/c

Option 2: Profit and loss account

Option 3: Realization account

Option 4: None of the above

Question : X, Y and Z are partners in a firm in the ratio of 4: 3: 2. On the firm's dissolution, the firm's total assets are Rs.4,00,000, and creditors are Rs.20,000. Realisation expenses are Rs.2,000. Assets realised 15% more than the book value. Creditors were paid 2% more. For-profit/loss on realisation, Y's capital account will be debited/credited with

Option 1: Credited Rs 8,100

Option 2: Debited Rs 19,200

Option 3: Credited Rs 19,200

Option 4: None of the above

Question : X, Y and Z are partners in a firm in the ratio of 4: 3: 2. On the firm's dissolution, the firm's total assets are Rs.4,00,000, and creditors are Rs.20,000. Realisation expenses are Rs.2,000. Assets realised 15% more than the book value. Creditors were paid 2% more. For-profit/loss on realisation, Y's capital account will be debited/credited with

Option 1: Credited Rs 8,100

Option 2: Debited Rs 19,200

Option 3: Credited Rs 19,200

Option 4: None of the above

Question : Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3: 2. On 31st March 2018 the firm was dissolved. After the transfer of assets (other than cash in hand and at the bank) and third-party liabilities to the Realization Account, the following information was provided:
Question:
Profit and Loss Account showed a debit balance of Rs. 50,000. The entry will be

Option 1: Adhraj 's capital account debited Rs 30,000, Karan's capital account debited Rs 20,000 credited profit and loss account Rs 50,000

Option 2: Debited profit and loss account with Rs 50,000 credited Adhiraj's capital account by Rs 30,000 a and karan's capital account by Rs 20,000

Option 3: Debited realization account and credited partner's capital account with Rs 50,000

Option 4: None of the above