Home
Class 12
ACCOUNTS
On dissolution of a firm , Debtors Rs,...

On dissolution of a firm , Debtors Rs, 17,000 were shown in the Balance sheet. Out of this , Rs, 2,000 become bad ,One debtor become insolvent. 70% were recovered from him out of Rs 5000. Full amount was recovered from the balance debtors .On account of this item , Loss in Realisation account will be :

A

Rs, 5,100

B

Rs, 1,500

C

Rs,3,500

D

Rs,2,000

Text Solution

Verified by Experts

The correct Answer is:
C
Promotional Banner

Topper's Solved these Questions

  • COMPARATIVE STATEMENTS

    DK GOEL|Exercise MULTIPLE CHOICE QUESTIONS|30 Videos
  • FINANCIAL STATEMENTS ANALYSIS

    DK GOEL|Exercise Multiple Choice Questions|15 Videos

Similar Questions

Explore conceptually related problems

A and B are partners in a firm sharing profits and losses in the ratio of 2 : 1 . On 31st March ,2019 , their Balance Sheet was : On that date , the partners decide to dissolve the firm . A took over Investments at an agreed valuation of ₹ 35,000 . Other assets were realised as follows : Sundry Debtors : Full amount . The firm could realise Stock at 15% less and Furniture at 20% less than the book value . Building was sold at ₹ 1,00,000 . Compensation to employees paid by the firm amounted to ₹ 10,000 . This liability was not provided for in the above Balance Sheet . You are required to close the books of the firm by preparing Realisation Account , Partner's Capital Accounts and Bank Account .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. If total assets areRs, 2,00,000 total liabilities are Rs, 40,000 amo...

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |