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On dissolution of a firm, its Balance Sheet revealed total creditors Rs. 50,000; Total Capital Rs. 48,000; Cash Balance Rs. 3,000. Its assets were realised at 12% less. What will be loss on realisation?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Rs. 11 ,400







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Previous PostOn dissolution of the firm, partner A demands that his loan of Rs. 1,00,000 should be paid before, payment of Capitals of the partners, whereas partners B and C demand that Capitals should be paid before the payment of A’ s loan. State the order of payment.
Next PostOn dissolution of a firm, Sundry Creditors amounted to Rs. 8,000. These were paid at a discount of 5%. What entry will he passed?

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