Advertisements
Advertisements
Question
On dissolution of a firm, partner’s capital accounts balance was ₹ 63,000; creditors balance was ₹ 12,000 and profit & loss account debit balance was ₹ 6,000. Profit on realisation of assets was ₹ 7,800. Total amount realised from assets was:
Options
₹ 81,000
₹ 76,800
₹ 70,800
₹ None
MCQ
Advertisements
Solution
₹ 76,800
Explanation:
Creditors balance = ₹ 12,000 (Given)
Partner’s capital accounts balance = ₹ 63,000 (Given)
Total Liabilities and Capital = ₹ 12,000 + ₹ 63,000 = ₹ 75,000
Profit & Loss (Debit Balance) = ₹ 6,000 (Given)
Adjusted Liabilities and Capital = ₹ 75,000 – ₹ 6,000 = ₹ 69,000
Profit on realisation of assets = ₹ 7,800 (Given)
Total Amount Realized from Assets = ₹ 69,000 + ₹ 7,800 = ₹ 76,800
Therefore, the total amount realized from assets was ₹ 76,800.
shaalaa.com
Is there an error in this question or solution?
