Question

Arun, Basu and Tarun were partners sharing Profit & Loss in the ratio 5 : 3 : 2. Their firm was dissolved on March 31, 2025. On this date following assets and liabilities were appearing in their books of accounts.

Building ₹ 2,00,000; Furniture ₹ 80,000; Stock ₹ 70,000; Goodwill ₹ 10,000; Debtors ₹ 40,000; Cash ₹ 20,000; Creditors ₹ 50,000; Arun’s Loan ₹ 60,000; Tarun’s Brother Loan ₹ 30,000. Assets realised at for ₹ 3,40,000. Determine the amount of Realisation Gain/Loss.

विकल्प

• Realisation Loss ₹ 80,000

• Realisation Gain ₹ 60,000

• Realisation Loss ₹ 60,000

• No Gain or Loss on Realisation

Answer 1

Realisation Loss ₹ 60,000

Explanation:

Dr.	Realisation Account		Cr.
Particulars	Amount (₹)	Particulars	Amount (₹)
To Assets	4,00,000	By Liabilities	80,000
To Bank (liabilities paid)	80,000	By Bank (realised)	3,40,000
To Loss transferred to Partners A/c	60,000
	5,40,000		5,40,000