Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000. Partner capital account will be---------
Option 1: Credited by Rs 50000
Option 2: Debited by Rs 50000
Option 3: Debited by Rs 25000
Option 4: None of the above
Correct Answer: None of the above
Solution : Answer = None of the above Reason: Partner's loan a/c.....Dr 50,000 To Realisation a/c 50,000. Hence, the correct option is 4.
Question : In the Settlement Of Varun's ( partner) loan Of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000. The realization account will be
Question : A debtor of Rs 31,000 agreed to pay the dissolution expenses which were Rs 30,000 in full settlement of his debt. Choose the correct option.
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