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 expenses Rs. 3,000. How much amount he will finally get? Post category:Accountancy Reading time:1 mins read SOLUTION Rs. 54,000. 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, debtors Rs. 17,000 were shown in the Balance Sheet. Out of this Rs. 2,000 became bad. One debtor became insolvent. 70% were recovered from him out of Rs. 5,000. Full amount was recovered from the balance debtors. On account of this item, what will be the loss in realisation account? Next PostCreditors 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? You Might Also Like On dissolution of a firm, out of the proceeds received from the sale of assets Who will be paid last of all? September 27, 2022 Name any one line item that can be shown under the major heading “Equity and Liabilities” in a Company’s Balance Sheet. September 30, 2022 What adjustments are required for decrease or increase in Trade Payables/bills payable while calculating ‘Cash flow from operating activities’? October 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.