On dissolution of a firm, a partner’s capital account has a credit balance of Rs. 42,000. His share of profit in realisation account is Rs. 9,000. He has paid firm’s realisation expenses Rs. 3,000. How much amount he will finally get? Post category:Accountancy Reading time:1 mins read SOLUTION Rs. 54,000. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostOn dissolution of a firm, debtors Rs. 17,000 were shown in the Balance Sheet. Out of this Rs. 2,000 became bad. One debtor became insolvent. 70% were recovered from him out of Rs. 5,000. Full amount was recovered from the balance debtors. On account of this item, what will be the loss in realisation account? Next PostCreditors amounting to Rs. 80,000 are transferred to Realisation Account. What entry will be made on their payment if Rs. 10,000 of the creditors are not to be paid and the remaining creditors agreed to accept 20% less amount? You Might Also Like Name an item which is transferred to credit side of Realisation Account at the time of dissolution of partnership firm, but does not involve cash payment. (C.B.S.E. 2020) October 8, 2022 Green Ltd. purchased the assets of Strong Ltd. for Rs. 40,00,000 and took over liabilities of 7,00,000 at an agreed value of Rs. 32,40,000. Payment was made by issuing 10% Debentures of 100 each at a discount of 10%. Pass the necessary Journal entries in the books of Green Ltd. July 18, 2022 At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Name an item which is transferred to credit side of Realisation Account at the time of dissolution of partnership firm, but does not involve cash payment. (C.B.S.E. 2020) October 8, 2022
Green Ltd. purchased the assets of Strong Ltd. for Rs. 40,00,000 and took over liabilities of 7,00,000 at an agreed value of Rs. 32,40,000. Payment was made by issuing 10% Debentures of 100 each at a discount of 10%. Pass the necessary Journal entries in the books of Green Ltd. July 18, 2022
At what rate interest on Calls-in-Advance may be paid by a Company according to Table F of Schedule I of the Companies Act, 2013? September 28, 2022