Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs.3,00,000. There was unrecorded furniture valued at Rs. 15,000 , half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs. 15,000 and remaining half was given to Y at a discount of 10% in part satisfaction of his claim. Balance of Y's claim was discharged by current date cheque. Question: Amount payable to Y is
Option 1: Rs 3,00,000
Option 2: Rs 2,97,500
Option 3: Rs 2,97,250
Option 4: None of the above
Correct Answer: Rs 2,97,250
Solution : Answer = Rs 2,97,250
Y's amount due = 3,00,000
(+) Revaluation (close) = 2750
(15000 - 6750)
Amount due = 2,97,250 Hence, the correct option is 3.
Question : X, Y and Z are partners in a firm. Y retires and his claim including his capital and his share of goodwill is Rs. 3,00,000. There was unrecorded furniture valued at Rs. 15,000, half of which was given to an unrecorded creditor of Rs. 30,000 in settlement of his claim of Rs.
Question : A, B and C are partners in a firm. B retires and his claim including his capital and his share of goodwill is Rs. 6,00,000. There was unrecorded furniture valued at Rs. 30,000, half of which was given to an unrecorded creditor of Rs. 60,000 in settlement of his claim of Rs.
Question : A, B and Cwere partners in a firm. 8 retired and his claim including his capital and share of goodwill was Rs. 1,80,000.There was an unrecorded furniture estimated at Rs. 9,000, half of which was given for an unrecorded liability of Rs. 18,000 in settlement of claim of Rs.
Question :
X, Y and Z are partners in a firm sharing profits arid losses in the ratio of 1: 2: 3. Z retires and his Capital Account after making all adjustments of reserve and gain (profit) on revaluation exists at Rs. 3,60,000. X and Y agreed to pay him
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