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Question
A, B and C were partners sharing profits in the ratio of 2 : 2 : 1. C died. The amount due to C was calculated as 50,000 up to the date of death, without considering the following:
Unrecorded assets 12,000 and Unrecorded Liabilities 2,000.
What is the amount due to C’s Executors?
Options
₹ 55,000
₹ 60,000
₹ 48,000
₹ 52,000
MCQ
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Solution
₹ 52,000
Explanation:
Amount due to C without unrecorded assets and liabilities = 50,000
Unrecorded Assets =12,000 and Unrecorded Liabilities = 2,000
Therefore, Net Adjustment to be done = ₹ 12,000 − ₹ 2,000
= ₹ 10,000
C will get = `1/5 xx ₹ 10,000`
= ₹ 2,000
Total amount due to C = ₹ 50,000 + ₹ 2,000
= 52,000
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