Question

If purchases is Rs.3,70,000 and it includes wages for instalation of

machinery Rs.20,000 and return inward is Rs.10,000, net purchases

is ………Gopal and Krishnan decided to dissolve their firm and convert it into a

Ltd. Company. Their assets were Rs. 2,00,000 and Trade Liabilities Rs.

90,000. Purchase Price is agreed at Rs. 3,00,000. Expenses amounted to

Rs.15,000, paid by the firm. Ascertain the profit or loss on realisation

account

A)225000 profit B)280000 profit C)175000 profit D)193000 loss​

Answer 1

Answer:

B)280000 profit

Explanation:

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