If total assets are Rs. 5,00,000; total liabilities are Rs. 2,00,000; amount realised on sale of assets is Rs. 3,10,000 and realisation expenses are Rs. 2,000 what will be the profit or loss on realisation? Post category:Accountancy Reading time:1 mins read SOLUTION Loss Rs. 1,92,000. 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 the basis of following data, how much final payment will be made to a partner on firm’s dissolution? Debit balance of Capital Account Rs. 5,000; Share of his profit on realisation Rs. 28,000; Firm’s asset taken over by him for Rs. 6,000. Next PostIf opening capitals of partners are A Rs. 2,00,000, B Rs. 3,00,000 and C Rs. 4,00,000 and their drawings during the year are A Rs. 3,000 per month, B Rs. 4,000 per month and C Rs. 5,000 per month and creditors are Rs. 80,000, what will be the amount of assets of the firm? You Might Also Like Does partnership firm has a separate legal entity? Give reason in support of your answer. (Delhi 2017) October 7, 2022 What will be the impact of ‘Cash Paid to Trade Payables’ on a Current ratio of 1: 1? State the reason. October 3, 2022 What is the nature of Interest on Debentures? September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Does partnership firm has a separate legal entity? Give reason in support of your answer. (Delhi 2017) October 7, 2022
What will be the impact of ‘Cash Paid to Trade Payables’ on a Current ratio of 1: 1? State the reason. October 3, 2022
