Rectify the following errors: i) Rs. 5000 paid for the installation of machinery debited to wages account. ii) An amount of Rs. 2860 due from Prasad, written off as bad in previous year, was recovered and credited to his personal account.

Question : On dissolution of a firm, debtors Rs. 34,000 were shown in the Balance Sheet. Out of this, Rs. 4000 became bad. One debtor became insolvent. 70% was recovered from him out of Rs.10,000 Full amount was recovered from the balance debtors. On account of this item, the loss in the realisation account will be :

Option 1: Rs 51,000

Option 2: Rs 15,000

Option 3: Rs 35,000

Option 4: Rs 7,000

Question : On dissolution of a firm, debtors Rs. 34,000 were shown in the Balance Sheet. Out of this, Rs. 4000 became bad. One debtor became insolvent. 70% was recovered from him out of Rs.10,000 Full amount was recovered from the balance debtors. On account of this item, the loss in the realisation account will be :

Option 1: Rs 51,000

Option 2: Rs 15,000

Option 3: Rs 35,000

Option 4: Rs 7,000

Question : At the time of dissolution of a firm, Debtors were Rs. 34000 out of which Rs. 1000 became bad and the rest realised 60%. Which account will be debited and by how much amount?

Option 1: Realisation Account by Rs. 19800

Option 2: Profit and Loss Account by Rs 500

Option 3: Cash Account by Rs. 19800

Option 4: Debtors Account by Rs. 19800

Question : At the time of dissolution of a firm, Debtors were Rs. 34000 out of which Rs. 1000 became bad and the rest realised 60%. Which account will be debited and by how much amount?

Option 1: Realisation Account by Rs. 19800

Option 2: Profit and Loss Account by Rs 500

Option 3: Cash Account by Rs. 19800

Option 4: Debtors Account by Rs. 19800

Question : On dissolution of a firm, debtors Rs 34,000 were shown in the Balance Sheet. Out of this Rs 4000 became bad. One debtor became insolvent. 70% were recovered from him out of 10,000. The full amount was recovered from the balance debtors. On account of this item, the loss in realisation account will be:

Option 1: 5,100

Option 2: 7,000

Option 3: 3,500

Option 4: 2,000