Question

At the time of dissolution, total assets are of ₹ 12,00,000 and outside liabilities are of ₹ 4,80,000. If assets realised 120% and realisation expenses paid were ₹ 16,000, gain or loss on realisation will be ______.

विकल्प

• Gain ₹ 2,40,000

• Loss ₹ 2,40,000

• Loss ₹ 2,24,000

• Gain ₹ 2,24,000

Answer 1

At the time of dissolution, total assets are of ₹ 12,00,000 and outside liabilities are of ₹ 4,80,000. If assets realised 120% and realisation expenses paid were ₹ 16,000, gain or loss on realisation will be gain ₹ 2,24,000.

Explanation:

Extra Profit on Assets (20% above Book Value):

Extra Profit on Assets = `12,00,000 xx 120/100`

= 12,00,000 × 1.20

= 14,40,00,000

= 14,40,000

Total Credit Side =  ₹ 4,80,000 + ₹ 14,40,000

= ₹ 19,20,000

Total Debit Side: ₹ 12,00,000 + ₹ 4,80,000 + ₹ 16,000

= ₹ 16,96,000

Gain = Total Credit Side − Total Debit Side

= 19,20,000 − 16,96,000

= ₹ 2,24,000