Question

37)Virat takeover investment having book value of Rs 10000
for
80 % of its book value. Virat A/c is debited by
A)Rs 7000
B)Rs 8000
C)Rs 10000
D)Rs 18000
38)Excess of credit side over debit side of Realisation A/c is​

Answer 1

Explanation:

Sorry Di I am student of school

Answer 2

Option B is correct i.e   8,000.

Virat took over investment having book value of 10,000 for 80% of its value. Virat A/C is debited by 8,000.

Investment book value is 10,000 and he has taken over investment at 80% of book value .

So investment value is = 10,000 × $\frac{80}{100}$

                                      = 8,000

So, he is taking the investment at 8,000.

His account will be debited with 8,000 as any thing credited in partners account increases their capital and anything debited to their capital account will  decrease their  capital.