Question : Ram, Hari and Zalim are partners in a firm in the ratio of 3: 2: 1 On the firm's dissolution, the firm's total assets are Rs. 140,000, creditors are Rs. 30,000. Realization expenses are Rs. 2,000. Assets realised 15% more than the book value. Creditors were paid 2% more. For-profit/loss on realisation, Ram's capital account will be debited/credited with :
Option 1: Credit Rs.8,100
Option 2: Credit Rs. 9200
Option 3: Debit Rs. 9200
Option 4: Debit Rs. 2,400
Correct Answer: Credit Rs. 9200
Solution : Answer = credited by Rs 9200
Realisation a/c | |||
To Sundry assets | 1,40,000 | Sundry liabilities | |
Creditor | 30,000 | ||
To Bank | 32,600 | Bank(assets realised) | 1,61,000 |
Expenses=2,000 | |||
Creditor=30,600 | |||
Profit | 18,400 | ||
1,91,000 | 1,91,000 |
Ram=$18400 \times \frac{3}{6}$=9,200.
Hence, the correct option is 2.