Question : An unrecorded asset was valued at Rs 2,00,000. On firm's dissolution. It was sold for Rs 125%. The realization account will be credited with
Option 1: Rs 2,00,000
Option 2: Rs 2,50,000
Option 3: Rs 1,50,000
Option 4: None of the above
Answer (1)
20th Jan, 2024
Correct Answer: Rs 2,50,000
Solution :
Answer =
Rs 2,50,000
Bank a/c......Dr 2,50,000
To Realisation a/c 2,50,000
(2,00,000+50,000)
Hence, the correct option is 2.
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