Question : There were investment worth Rs.1,20,000, 75% of the investment were taken over by partner at 75% of the book value. The value at which the investment are taken over is ?
Option 1: Rs.80,000
Option 2: Rs.90,000
Option 3: Rs.65,000
Option 4: Rs.67,500
Correct Answer: Rs.67,500
Solution : Total Worth of investment is Rs.120000
75% of the investment were taken over by partner at 75% of the book value
Hence the investment are taken over by Partner is
120000 * 75% * 75% = Rs.67500
Hence the correct answer is option 4.
Question : The amount of sundry assets transferred to Realisation A/c was Rs.1,20,000, 50% of them have been sold at a profit of Rs.25,000. 30% of the remaining assets were sold at a discount of 12% and the remaining were taken over by X (Partner) at 25% above book value. At what value
Question : B a partner took Stock-in-Trade at Rs. 70,000 and some of the Sundry Assets at Rs. 72,000 (being 10% less than book value). The Book value of sundry assets taken over by B is ----B's capital account will be ...
Question : At the time of death of a partner investment value Rs 10,000 were sold at Rs 22,000. The revaluation account will be --------
Question : In the Settlement Of Varun's ( partner) loan of Rs 50,00 to the firm, a computer net appearing in the books is taken over by him at an agreed value of Rs 30,000. Partner capital account will be---------
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile