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Question
On dissolution of a partnership firm, out of total debtors of ₹ 2,50,000, ₹ 10,000 were not realisable, and the balance realised 70%. In the given case, ______ will be debited by ______.
Options
Realisation A/c; ₹ 1,75,000.
Realisation A/c; ₹ 1,68,000.
Bank A/c; ₹ 1,82,000.
Bank A/c; ₹ 1,68,000.
MCQ
Fill in the Blanks
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Solution
On dissolution of a partnership firm, out of total debtors of ₹ 2,50,000, ₹ 10,000 were not realisable, and the balance realised 70%. In the given case, Bank A/c will be debited by ₹ 1,68,000.
Explanation:
Remaining Good Debtors = ₹ 2,50,000 − ₹ 10,000
= ₹ 2,40,000
Amount Realised = `2,40,000 xx 70/100`
= ₹ 1,68,000
When cash/cheque comes into the business from selling an asset, you debit the incoming money. Therefore, Bank A/c is debited by ₹ 1,68,000.
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