Question : Peter and Harry, who were partners sharing profits and losses in the proportion of 4 / 7 and 3 / 7 respectively, decided to dissolve the partnership firm as of 31st March 2020. On the date of the dissolution, Peter's Capital was Rs. 1,25,030 and Harry's Capital was Rs. 2,070. Creditors amounted to Rs. 23,150 and Cash Rs. 4,520. The remaining assets realised Rs. 1,24,910 and the expenses of dissolution were Rs. 1,860. Both partners were solvent.
Question:
The value of sundry assets is

Option 1: Rs 1,50,250

Option 2: Rs 1,45,730

Option 3: Rs 1,50,000

Option 4: Rs 1,45,000

Question : Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. The entry will be

Option 1: Debited Jay's capital Rs 16,000 and credited Vijay's capital account Rs 16,000

Option 2: Debited realisaton account Rs 15,000 and credited Jay's capital account Rs 15,000

Option 3: Both 1 and 2

Option 4: None of these

Question : A, B and C were partners sharing profits in the ratio of 5:3:2. On 31st March, 2020, A's Capital and B's Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000 .
Question:
The assets of the firm is____________.

Option 1: Rs 70,000

Option 2: Rs 75,000

Option 3: Rs 65,000

Option 4: None of the above

Question : C's Capital Account has a credit balance of Rs.2,00,000; C's Loan Account is showing a debit balance of Rs.40,000. Bank Balance is Rs.3,00,000. Show the treatment of C's Loan Account.

Option 1: Debited C's capital Rs 40,000 and credited C's Loan account Rs 40,000

Option 2: Debited C's capital Rs 1,60,000 and credited C's loan Rs 1,60,000

Option 3: Credited C's capital Rs 40,000 and debited C's loan Rs 40,000

Option 4: None of the above

Question : A, B and C were partners sharing profits in the ratio of 5: 3: 2. On 31st March, 2020, A's Capital and B's Capital were Rs. 30,000 and Rs. 20,000 respectively but C owed Rs. 5,000 to the firm. The liabilities were Rs. 20,000.
Question:
If the loss on realization is Rs. 15,000 The value of sundry assets are realized will be ---

Option 1: Rs 65,000

Option 2: Rs 70,000

Option 3: Rs 50,000

Option 4: Rs 15,000