Question : On dissolution of a firm, the firm's Balance Sheet total is Rs. 7,70,000. On the assets side of the Balance Sheet items were shown preliminary expenses of Rs. 20,000; a Profit & Loss Account (Debit) Balance of Rs.8000 and a Cash Balance of Rs.18000. Loss on realisation was Rs. 63,000. Total assets (including cash balance) realised will be :
Option 1: Rs 6,61,000
Option 2: Rs 7,10,000
Option 3: Rs 6,47,000
Option 4: Rs 6,29,000
Correct Answer: Rs 6,61,000
Solution : Answer = Rs 6,61,000
Hence, the correct option is 1.
Question : On dissolution of a firm, the firm's Balance Sheet total is Rs. 7,70,000. On the assets side of the Balance Sheet items were shown preliminary expenses of Rs. 20,000; a Profit & Loss Account (Debit) Balance of Rs.8000 and a Cash Balance of Rs.18000. Loss on realisation
Question : On dissolution of a firm, firm's Balance Sheet total is Rs.77,000. On the assets side of the Balance Sheet items were shown preliminary expenses Rs.2,000; Profit & Loss Account (Debit) Balance Rs.4,000 and Cash Balance Rs.1,800. Loss on realisation was Rs.6,300. Total
Question : On the dissolution of a firm, the partners' capital accounts balance was Rs 63,000; the creditor's balance was Rs 12,000 and the profit & loss account debit balance was Rs 7,500. Profit on the realisation of assets was Rs 7,800. The total amount realised from
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