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Question
On the basis of the following data, final payment to a partner on the firm's dissolution will be: Credit balance of the capital account of the partner was ₹ 50,000. Share of loss on realisation was ₹ 10,000. The firm’s liability taken over by him was for ₹ 8,000.
Options
₹ 32,000
₹ 48,000
₹ 40,000
₹ 52,000
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Solution
₹ 48,000
Explanation:
Final payment made to partner
= ₹ 50,000 (Capital) + ₹ 8,000 (Liabilities of firm taken over) - ₹ 10,000 (Share of loss on realisation)
= ₹ 48,000
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| Capital A/c | Machinery | 50,000 | ||
| Lal | 60,000 | Investments | 24,000 | |
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