Question : On dissolution of a firm, its balance sheet revealed total creditors of Rs 50,000. Total capital Rs 48,000, Cash balance Rs 3000. Its assets were realized at rs 12% less. The loss on realization will be.
Option 1: Rs 12,400
Option 2: Rs 11,400
Option 3: Rs 10,000
Option 4: None of the above.
Correct Answer: Rs 11,400
Solution : Answer = Rs 11,400
Hence, the correct option is 2.
Question : On dissolution of a firm, its Balance Sheet revealed total creditors of Rs.50,000; Total Capital of Rs.48,000; Cash Balance of Rs.3,000. Its assets were realized at 12% less. What will be the loss on realisation?
Question : On dissolution of a firm, its Balance Sheet revealed total creditors Rs.50,000; Total Capital Rs.48,000; Cash Balance Rs.3,000. Its assets were realised at 12% less. Loss on realisation will be ________.
Question : On dissolution of a firm, its Balance Sheet revealed total creditors Rs.50,000; Total Capital Rs.48,000; Cash Balance Rs.3,000. Its assets were realised at 12% less. Loss on realisation will be _________.
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?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile