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 : Ram, Hari and Zalim are partners in a firm in the ratio of 3: 2: 1 On the firm's dissolution, the firm's total assets are Rs. 140,000, creditors are Rs. 30,000. Realization expenses are Rs. 2,000. Assets realised 15% more than the book value. Creditors were paid 2% more. For-profit/loss on realisation, Ram's capital account will be debited/credited with :

Option 1: Credit Rs.8,100

Option 2: Credit Rs. 9200

Option 3: Debit Rs. 9200

Option 4: Debit Rs. 2,400

Question : Ram, Hari and Zalim are partners in a firm in the ratio of 3: 2: 1 On the firm's dissolution, the firm's total assets are Rs. 140,000, creditors are Rs. 30,000. Realization expenses are Rs. 2,000. Assets realised 15% more than the book value. Creditors were paid 2% more. For-profit/loss on realisation, Ram's capital account will be debited/credited with :

Option 1: Credit Rs.8,100

Option 2: Credit Rs. 9200

Option 3: Debit Rs. 9200

Option 4: Debit Rs. 2,400

Question : What is the treatment of provisions against assets on dissolution of a firm?

Option 1: Provisions against assets are credited to Realisation A/c.

Option 2: Provisions against assets are credited to revaluation A/c.

Option 3: Provisions against assets are debited to Realisation A/c.

Option 4: Provisions against assets are credited to partner's capital account.

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:
Realisation expenses amounted to Rs. 2,000 which were paid by Adiraj.

Option 1: Realization account debited Rs 2,000, credited bank account Rs 2,000

Option 2: Debited partner's capital account Rs 2,000 and credited bank account Rs 2,000

Option 3: Realization account debited Rs 2,000, credited partner's capital Rs 2,000

Option 4: None of the above