Debtors had a balance of 2,00,000. Debtors were realised at a discount of 13.5%. Hence, the realisation amount is Rs..

1,75,000

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1,73,500

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1,73,000

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2,00,000

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Solution

The correct option is C 1,73,000
Discount = 13.5% of Rs. 2,00,000
= Rs. 27,000.
So total realisation from debtors
= Rs. 2,00,000 - Rs. 27,000
= Rs. 1,73,000

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Similar questions

Debtors were shown in balance sheet at Rs 80,000.

Debtors were realised at a discount of 7%.

The journal entry will be-

H and J were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2018 their Balance Sheet was as follows :

BALANCE SHEET OF H AND J

as on 31st March, 2018

$\begin{matrix} Liabilities & Amount & Assets & Amount (Rs) & (Rs) Creditors & 1, 50, 000 & Bank & 2, 00, 000 Workmen Compensation Fund & 3, 00, 000 & Debtors & 3, 40, 000 General Reserve & 75, 000 & Stock & 1, 50, 000 H's Current A/c & 25, 000 & Furniture & 4, 60, 000 Captial : & Machinery & 8, 20, 000 H & 10, 00, 000 & J's Current A/c & 80, 000 J & 5, 00, 000 20, 50, 000 & 20, 50, 000 \end{matrix}$

On the above date the firm was dissolved.

(i) Debtors were realised at a discount of 5 $%$ . 50 $%$ of the stock was taken over by H at 10 $%$ less than the book value. Remaining stock was sold for Rs 65,000.

(ii) Furniture was taken over by J for Rs 1,35,000. Machinery was sold for Rs 7,40,000.

(iii) Creditors were paid in full.

(iv) Expenses on realisation Rs 8,000.

Prepare Realisation Account.

Q. A, B and C were equal partners. On 31st March, 2019, their Balance Sheet stood as:


Liabilities		Amount (₹)	Assets	Amount (₹)
Creditors		50,400	Cash	3,700
Reserve		12,000	Stock	20,100
Capital A/cs:			Debtors	62,600
A	40,000		Loan to A	10,000
B	25,000		Investments	16,000
C	15,000	80,000	Furniture	6,500
			Building	23,500
		1,42,400		1,42,400

The firm was dissolved on the above date on the following terms:
(a) For the purpose of dissolution, Investments were valued at ₹ 18,000 and A took over the Investments at this value.
(b) Fixed Assets realised ₹ 29,700 whereas Stock and Debtors realised ₹ 80,000.
(c) Expenses of realisation amounted to ₹ 1,300.
(d) Creditors allowed a discount of ₹ 800.
(e) One Bill receivable for ₹ 1,500 under discount was dishonoured as the acceptor had become insolvent and was unable to pay anything and hence the bill had to be met by the firm.
Prepare Realisation Account, Partner's Capital Accounts and Cash Account showing how the accounts would finally be settled among the partners.

Q. A, B and C were equal partners . On 31st March,2018, their Balance Sheet stood as:



Liabilities		₹	Assets	₹
Creditors		50,400	Cash	3,700
Reserve		12,000	Stock	20,100
Capital A/cs:			Debtors	62,600
A	30,000		Investments	16,000
B	25,000		Furniture	6,500
C	15,000	70,000	Building	23,500
		1,32,400		1,32,400

The firm was dissolved on the above date on the following terms:
(a) For the purpose of dissolution, Investments were valued at ₹ 18,000 and A took over the Investments at this value.
(b) Fixed Assets realised ₹ 29,700 whereas Stock and Debtors realised ₹ 80,000.
(c) Expenses of realisation amounted to ₹ 1,300.
(d) Creditors allowed a discount of ₹ 800.
(e) One Bill receivable for ₹ 1,500 under discount was dishonoured as the acceptor had become insolvent and was unable to pay anything and hence the bill had to be met by the firm .
Prepare Realisation Account , Partner's Capital Accounts and Cash Account showing how the accounts would finally be settled among the partners.

Q. A and B dissolve their partnership. Their position as at 31st March, 2018 was:

Particulars	Rs.
A's Capital	25,000
B's Capital	15,000
Sundry Creditors	20,000
Cash in Hand and at Bank	750

The balance of A's Loan Account to the firm stood at Rs. 10,000. The realisation expenses amounted to Rs. 350. Stock realised Rs. 20,000 and Debtors Rs. 25,000. B took a machine at the agreed valuation of Rs. 7,500. Other fixed assets realised Rs. 20,000.
You are required to close the books of the firm.

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Debtors had a balance of 2,00,000. Debtors were realised at a discount of 13.5%. Hence, the realisation amount is Rs..

The correct option is C 1,73,000Discount = 13.5% of Rs. 2,00,000 = Rs. 27,000. So total realisation from debtors = Rs. 2,00,000 - Rs. 27,000 = Rs. 1,73,000

The correct option is C 1,73,000
Discount = 13.5% of Rs. 2,00,000
= Rs. 27,000.
So total realisation from debtors
= Rs. 2,00,000 - Rs. 27,000
= Rs. 1,73,000