Creditors 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? Post category:Accountancy Reading time:1 mins read SOLUTION Realisation A/c Dr. 56,000 To Cash/Bank A/c 56,000 Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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, 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? Next PostIf total assets of a firm are Rs. 6,00,000 and total liabilities are Rs. 1,80,000, what will the capitals of P, Q and R if they share profits in the ratio of their capitals and profit-sharing ratio is 5: 4: 3. You Might Also Like S, B and j were partners in a firm. T was admitted as a partner in the partnership firm for l/5th share of profits. Calculate the sacrificing ratio of S, B and j. (C.B.S.E. 2019) October 7, 2022 On the basis of the following data how much final payment will be made to a partner on firm’s dissolution? Credit balance of Capital Account Rs. 50,000; Share of loss on realisation Rs. 10,000; Firm’s liability taken over by him for Rs. 8,000. September 27, 2022 What do you mean by Convertible Preference Shares? September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
S, B and j were partners in a firm. T was admitted as a partner in the partnership firm for l/5th share of profits. Calculate the sacrificing ratio of S, B and j. (C.B.S.E. 2019) October 7, 2022
On the basis of the following data how much final payment will be made to a partner on firm’s dissolution? Credit balance of Capital Account Rs. 50,000; Share of loss on realisation Rs. 10,000; Firm’s liability taken over by him for Rs. 8,000. September 27, 2022
