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 A, B and C are partners sharing profits in the ratio of 4 : 3 : 2. D is admitted for 1/3rd share in future profits. What is the sacrificing ratio?￼ July 29, 2022 Current Assets of a company is are Rs. 5,00,000. Its Current Ratio is 2.5 : 1 and Quick Ratio is 1: 1. Calculate value of Current Liabilities, Liquid Assets and Inventory. August 12, 2022 Sita and Geeta are partners in a firm sharing profits in the ratio of 3: 2. They had advanced to the firm a sum of Rs. 30,000 as a loan in their profit-sharing ratio on 1st October, 2021. The Partnership Deed is silent on interest on loans from partners. Compute interest payable by the firm to the partners, assuming the firm closes its books every year on 31st March. October 11, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.