Question : Trade creditors Rs. 1,60,000. Half of the trade creditors accepted Plant and Machinery Settled an agreed valuation of Rs. 54,000 and cash in full settlement of their claims after Allowing a discount of Rs. 16,000. The remaining trade creditors were paid 90% in the final settlement.
Bank account will be credited/debited by .....
Option 1: Credited by Rs 10,000
Option 2: Credited by Rs 72,000
Option 3: Credited by Rs 60,000
Option 4: Credited By Rs 82,000
Answer (1)
23rd Jan, 2024
Correct Answer: Credited By Rs 82,000
Solution :
Answer =
Credited By Rs 82,000
Realisation AIC Dr. 82000
To Bank A/C 82000
| Creditor= 1,60,000 | |
| Half creditor= 1,60,000×1/2 | 80,000 |
| (-) Plant and machinery | (54,000) |
| 26,000 | |
| (-) Discount on creditor | (16,000) |
| 10,000 | |
| Remaining creditor(80,000×90%) | 72,000 |
Hence, the correct option is 4.
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