At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% disc - Accountancy MCQ CUET Accountancy 2025 29 May Shift 2 2026 | ExamTest.live

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1 mark

At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% discount. How much net assets were taken over by Kiran?

Solution & Step-by-step Explanation

* Value of total assets = Rs. 100, 000 Book value of 50% of the assets = 50% of 100, 000 = Rs. 50, 000 Kiran takes them over at a 20% discount. Value at which assets are taken over = 50, 000 - (20% of 50, 000) = 50, 000 - 10, 000 = Rs. 40, 000

Try it yourself before checking the explanation above.

At the time of dissolution, a firm transferred Rs.100,000 Assets to the realization account and 50% of the assets were taken over by Kiran at 20% discount. How much net assets were taken over by Kiran?

Rs.50,000.

Rs.45,000.

Rs.30,000

Rs.40,000.

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