Question : The amount of sundry assets transferred to Realisation A/c was Rs.1,20,000, 50% of them have been sold at a profit of Rs.25,000. 30% of the remaining assets were sold at a discount of 12% and the remaining were taken over by X (Partner) at 25% above book value. At what value was the asset taken over by X?

Option 1: Rs.52,500

Option 2: Rs.42,000

Option 3: Rs.60,000

Option 4: None of the Above

Question : B a partner took Stock-in-Trade at Rs. 70,000 and some of the Sundry Assets at Rs. 72,000 (being 10% less than book value). The Book value of sundry assets taken over by B is ----B's capital account will be ...

Option 1: Rs 80,000 Debited by Rs 1,34,800

Option 2: Rs 64,800 Credited by Rs 1,34,800

Option 3: Rs 80,000 Debited by Rs 1,42,000

Option 4: None of the above

Question : At the time of death of a partner investment value Rs 10,000 were sold at Rs 22,000. The revaluation account will be --------

Option 1: Debiting by Rs 22,000

Option 2: Crediting by Rs 12,000

Option 3: Debiting by Rs 12,000

Option 4: None of the above

Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000.
Partner capital account will be---------

Option 1: Credited by Rs 50000

Option 2: Debited by Rs 50000

Option 3: Debited by Rs 25000

Option 4: None of the above

Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000.
Partner capital account will be---------

Option 1: Credited by Rs 50000

Option 2: Debited by Rs 50000

Option 3: Debited by Rs 25000

Option 4: None of the above