Cost Of Assets

Use Of Assets Disposal Account

Application Of Assets

Marshalling And Grouping Of Assets And Liabilities

Total assets of a firm are ₹ 20,00,000 and its fixed assets are ₹ 8,00,000 . What will be the percentage of fixed assets on total assets ?

Book Value of assets (other than cash and bank ) transferred to Realisation Account is ₹ 1,00,000 . 50 % of the assets are taken over by a partner Atul , at a discount of 20% , 40% of the remaining assets are sold at a profit of 30% on cost , 5% of the balance being obsolete , realised nothing and remaining assets are handed over to a Creditor , in full settlement of his claim. You are required to record the Journal entries for realisation of assets .

The asset or assets that a borrower pledges in order to guarantee repayment of a loan is called as