Question : On dissolution of a firm, debtors Rs. 34,000 were shown in the Balance Sheet. Out of this, Rs. 4000 became bad. One debtor became insolvent. 70% was recovered from him out of Rs.10,000 Full amount was recovered from the balance debtors. On account of this item, the loss in the realisation account will be :
Option 1: Rs 51,000
Option 2: Rs 15,000
Option 3: Rs 35,000
Option 4: Rs 7,000
Answer (1)
25th Jan, 2024
Correct Answer: Rs 7,000
Solution : Answer = Rs 7,000
| Realisation a/c | |||
| To Sundry assets | 34,000 | Bank(7,000+20,000) | 27,000 |
| Debtors | loss | 7,000 | |
| 34,000 | 34,000 | ||
Hence, the correct option is 4.
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