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. Post category:Accountancy Reading time:1 mins read SOLUTION Rs. 48,000 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, its Balance Sheet revealed capital Rs. 5,00,000; General Reserve Rs. 2,00,000, Creditors Rs. 1,00,000 and cash balance Rs. 20,000. Assets were realised at 60%. What will be loss on realisation? Next PostX, Y and Z are partners in a firm in the ratio of 4: 3; 2. On firm’s dissolution, firm’s total assets are Rs. 70,000, creditors are Rs. 15,000. Realisation expenses are Rs. 2,100. Assets realised 15% more than the book-value. Creditors were paid 2% more. For profit / loss on realisation, y’s capital account will be debited / credited with how much amount? You Might Also Like Calculate following ratios on the basis of the following information: (i) Gross Profit Ratio. (ii) Current Ratio. (iii) Acid Test Ratio. (iv) Inventory Turnover Ratio. August 18, 2022 Under which type of activity will you classify ‘Issue of Equity Shares at Premium’ while preparing cash-flow statement? October 6, 2022 From the following Balance Sheet of Samta Ltd., as at 31st March, 2019, prepare Cash Flow Statement: August 20, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.