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An Unrecorded asset was valued at Rs, ...

An Unrecorded asset was valued at Rs, 1,00,000. On firm 's Dissolution ,It was sold for 52% .Realisation account will be credited with :

A

Rs, 52,000

B

Rs,48,000

C

Rs,1,00,000

D

None of the above

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A
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Following was the Balance Sheet of D , T and G as at 31st March 2019 : The firm was dissolved on the above date . The assets realised and liabilities were paid as follows : (i) Debtors realised ₹ 28,000 , Creditors and Bills Payable were paid at a discount of 10% . (ii) Stock was taken by T for ₹ 15,000 and Furniture was sold to N for ₹ 12,000 . (iii) Land and Building was sold for ₹ 2,80, 000 . (iv) An unrecorded asset of estimated value of ₹ 1,20,000 was sold for ₹ 1, 00,000 . Prepare Realisation Account , Capital Accounts of D , T and G and Bank Account .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. On the basis of following data final payments to a partner on fir...

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  2. On payment of expenses of dissolution , account will be debited :

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  3. An Unrecorded asset was valued at Rs, 1,00,000. On firm 's Dissolu...

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  4. On firm 's Dissolution , a Partner undertook firm 's Creditors at R...

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  5. On Dissolution , losses are first of all met :

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  6. ……………is prepared at the time of dissolution :

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  7. While transferring assets to realisation account ………………. Is omitte...

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  8. If total assets areRs, 2,00,000 total liabilities are Rs, 40,000 amo...

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  9. On dissolution of a firm , debtors were Rs. 17,000 Of these Rs, ...

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  10. In the Balance sheet Total debtors appear at Rs.50,000 and Prov...

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  11. How much amount will be paid to creditors for Rs, 25,000 if Rs, ...

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  12. P, a partner , is to bear all expenses of realisation for which he...

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  13. How much amount will be paid to A , If his opening capital is ...

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  14. Investments valued Rs, 2,00,000 were not shown in the books One o...

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  15. If creditors are Rs, 25,000 ,Capital is Rs, 1,50,000 and cash bala...

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  16. If opening capital of partners are A Rs, 3,00,000 ,B Rs, 2,00,000 a...

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  17. If total assets of a firm Are Rs, 12,00,000 and total libilities ar...

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  18. On dissolution of a firm , a partner's capital account has a cred...

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  19. On dissolution of a firm a partner took over Rs, 17,000 investment...

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  20. On dissolution of firm , which item is debited to the realisation...

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