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On dissolution of a firm, its …

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On dissolution of a firm, its Balance Sheet revealed Total Creditors 65.000, Total capital 50,000, Cash Balance 8,000. Its assets were realized at 12% less than the Book Value. Loss on realization will be: (a) ₹ 11,000 (c) * 11,400 (b) * 12,840 (d) ₹ 3,600

Posted by Dilpreet Singh Dilpreet Singh 1 year, 9 months ago

CBSE > Class 12 > Accountancy

1 answers

Abhi Abhi 1 year, 9 months ago

Total assets(excluding cash)=65000+50000-8000=107000 Loss on realization = 107000×12/100 Answer: 12840

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