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On dissolution of a firm , a partner's...

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 expanses Rs, 3,000 ,He will finally get a payment of :

A

Rs, 39,000

B

Rs,42,000

C

Rs,54,000

D

Rs,48,000

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The correct Answer is:
C
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Pass Journal entries for the following transactions : (i) Realisation expenses amounted to ₹ 10 , 000. (ii) Realisation expenses of ₹ 5,000 were paid by the firm on behalf of Taran , a partner . (iii) Realisation expenses of ₹ 5,000 were paid by the firm on behalf of Madan , a partner . (iv) Pawan , a partner was paid remuneration (including expenses) of ₹ 20 , 000 to carry out dissolution of the firm . Actual expenses were ₹ 10 , 000 . (v) Dissolution expenses were ₹ 8 , 000 . Out of the said expenses , ₹ 3,000 were to be borne by the firm and the balance by Ravi , a partner . ₹ 8,000 are paid by the firm . (vi) Dissolution expenses were ₹ 8 ,000, ₹ 3,000 were to be borne by the firm and the balance by Rajib , a partner . The expenses were paid by the partner . (vii) Realisation expenses of ₹ 5,000 were to be borne and paid by Karan , a partner . (viii) Manoj , a partner is to carry out dissolution of the firm at an agreed remuneration of ₹ 10 , 000 . (ix) Dev , a partner is paid remuneration of ₹ 15,000 for dissolution of the firm . Realisation expenses of ₹ 8,000 are paid by the firm . (x) Realisation expenses of ₹ 5,000 were to be borne by Pavit , a partner . However it was paid by Hitesh , another partner .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
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  2. On dissolution of a firm , debtors were Rs. 17,000 Of these Rs, ...

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

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

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

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

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

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

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

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

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

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

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

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  14. At the time of dissolution of a firm , Creditors are Rs,70,000 ,P...

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  15. On dissolution of a firm , Debtors Rs, 17,000 were shown in the Bal...

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  16. X,Y,and Z are partners in a firm in the ratio of 4:3:2 Om firm '...

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  17. On dissolution of a firm , firm's Balance sheet total is Rs, 77,0...

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  18. On dissolution of a firm , partners' Capital accounts balance was ...

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  19. On Dissolution of firm ,a partner took- over the investments Of Rs...

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  20. Anu,Bina and charan are partners , the firm had given a loan of...

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