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 assets was______.
Option 1: Rs 67,500
Option 2: Rs 75,000
Option 3: Rs 75,300
Option 4: Rs 82,500
Correct Answer: Rs 82,500
Solution :
Answer =
Rs 82,500
The total amount received from assets was Rs 67500+Rs 7,800=Rs 75,300.
Memorandum balance sheet | |||
Capital a/c | 63,000 | Profit and loss(Dr) | 7,500 |
Creditors | 12,000 | S.Assets(b/f) | 67,500 |
75,000 | 75,000 |
Hence, the correct option is 4.