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Q. 140 books are divided between Sanjay and Nived in the ratio 7:3. How many books did Sanjay and Nived receive respectively?

A
100, 40
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B
90, 50
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C
98, 42
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D
96, 44
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Solution

The correct option is C 98, 42

Explanation:

Let the number of books received by Sanjay be 7x

Let the number of books received by Nived be 3x

7x+3x=140

10x=140

x=14

Books received by Sanjay =7×14

=98

Books received by Nived=3×14

=42


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Q.

Sanjay, Tarun and Vineet shared profit in the ratio of 3:2:1. On December 31,2017 their balance sheet was as follows:

Balance Sheet of Sanjay, Tarun and Vineet as on December 31, 2017

Liabilities

Amount

Rs

Assets

Amount

Rs

Capitals:

Plant

90,000

Sanjay

1,00,000

Debtors

60,000

Tarun

1,00,000

Furniture

32,000

Vineet

70,000

2,70,000

Stock

60,000

Creditors

80,000

Investments

70,000

Bills payable

30,000

Bills receivable

36,000

Cash in hand

32,000

3,80,000

3,80,000

On this date the firm was dissolved. Sanjay was appointed to realise the assets. Sanjay was to receive 6% commission on the sale of assets (except cash) and was to bear all expenses of Realisation.

Sanjay realised the assets as follows: Plant Rs 72,000, Debtors Rs 54,000, Furniture Rs 18,000, Stock 90% of the book value, Investments Rs 76,000 and Bills receivable Rs 31,000. Expenses of Realisation amounted to Rs 4,500.

Prepare Realisation Account, Capital Accounts and Cash Account

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