Question : A, B and C are partners in a firm. B retires and his claim including his capital and his share of goodwill is Rs. 6,00,000. There was unrecorded furniture valued at Rs. 30,000, half of which was given to an unrecorded creditor of Rs. 60,000 in settlement of his claim of Rs. 30,000 and the remaining half was given to B at a discount of 10% in part satisfaction of his claim. The balance of B's claim was discharged by the current date cheque. Bank account will be
Option 1: Debited by Rs 5,81,000
Option 2: Credited by Rs 5,81,000
Option 3: Credited by Rs5,73,250
Option 4: None of the above
Correct Answer: Credited by Rs 5,81,000
Solution : Answer = Credited by Rs 5,81,000
B's Capital A/c..........Dr 5,94,500 To Furniture 13,500 To Bank 5,81,000 Hence, the correct option is 2.
Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs. 3,00,000. There was unrecorded furniture valued at Rs. 15,000, half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs.
Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs.3,00,000. There was unrecorded furniture valued at Rs. 15,000 , half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs.
Question : A, B and Cwere partners in a firm. 8 retired and his claim including his capital and share of goodwill was Rs. 1,80,000.There was an unrecorded furniture estimated at Rs. 9,000, half of which was given for an unrecorded liability of Rs. 18,000 in settlement of claim of Rs.
Question : A, B, C and D are partners sharing profits in the ratio of 3: 4: 3: 2, On the retirement of C, the goodwill was valued at Rs. 6,00,000. A, B and D decided to share future profits equally. C's capital account will be ....
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