At the time of dissolution total assets are worth ₹ 3,00,000 and external liabilities are worth ₹ 1,20,000. If assets realised 120% and realisation expenses paid were ₹ 4,000, then profit/loss on realisation will be: *
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3
Answer:
2,36,000 will be profit
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0
Answer: Profit Rs.56,000
Explanation:
Total assets = ₹3,00,000
Liabilities = ₹1,20,000
assets realized = ₹3,00,000 x 120/100= ₹3,60,000 (because 120%)
so, 60,000 assets side and 4,000(realization expenses) liabilities side tallying both will give ₹56,000 (profit)
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