Question : If Creditors are Rs 25,000, capital is Rs 3,00,000, and cash balance is Rs 20,000. What will the amount of sundry assets be?
Option 1: Rs 3,25,000
Option 2: Rs 3,05,000
Option 3: Rs 3,45,000
Option 4: none of the above
Correct Answer: Rs 3,05,000
Solution : Answer = Rs 3,05,000
Hence, the correct option is 2.
Question : If creditors are Rs 25,000, capital is Rs 1,50,000 and cash balance is Rs 10,000. What will be the amount of Sundry assets?
Question : On dissolution of a firm, its balance sheet revealed capital of Rs 5,00,000. General reserve Rs 2,00,000, creditors Rs 1,00,000 and cash balance Rs 20,000. Assets realized at 60%. What will be the loss on realization?
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