Question

There was an unrecorded asset of ₹ 2,000 which was taken over by a partner at ₹ 1,500. partner’s capital account will be debited by ______.

पर्याय

• ₹ 2,000

• ₹ 1,500

• ₹ 500

• ₹ 3,500

Answer 1

There was an unrecorded asset of ₹ 2,000 which was taken over by a partner at ₹ 1,500. partner’s capital account will be debited by ₹ 1,500.

Explanation:

When a partner takes over an unrecorded asset, the partner’s capital account is debited with the amount actually agreed for the asset, which in this case is ₹ 1,500. The realisation account is credited with the same amount to remove the asset from the books, and the difference between the book value (₹ 2,000) and the taken-over value (₹ 1,500) results in a loss on realisation of ₹ 500, which is shared by all partners in their profit-sharing ratio.