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Question
Aditya, Abhinav and Ankit were partners in a firm sharing profits in the ratio of 4: 3 : 3. On 31st March, 2022, the firm was dissolved. Aditya was appointed to complete the dissolution process for which he was allowed a remuneration of ₹ 42,000. Aditya also agreed to bear dissolution expenses. Actual expenses on dissolution amounted to ₹ 33,000 which were paid by Aditya. Aditya’s Capital Account will be credited by:
Options
₹ 42,000
₹ 33,000
₹ 9,000
₹ 18,000
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Solution
₹ 42,000
Explanation:
Remuneration of ₹42,000 to be paid to Aditya for completing dissolution process will be credited to Aditya's Capital Account.
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|
Creditors Investment Fluctuation Fund Capitals Prachi Ritika |
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|
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|
| 84,500 | 84,500 |
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| Balance Sheet as on 31st March, 2023 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
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| Advertisement Suspense | 11,200 | ||||
| 2,52,000 | 2,52,000 | ||||
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Read the following hypothetical situation and answer question on the basis of the same.
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The average number of months for which interest on drawings will be calculated, will be:
