Case studyA and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of Assets and Liabil - Accountancy MCQ CUET Accountancy 2022 30 Aug Shift 2 2026 | ExamTest.live

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Case studyA and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of Assets and Liabilities on the date of dissolution was: It was agreed that following transactions will take place :A. A wanted to start the business in sole proprietorship So he took Building and Furniture at 10% less than book value.B. All the debtors proved good except a person C who did not pay Rs. 10, 000 .The amount recovered from the debtors is:

Solution & Step-by-step Explanation

Total debtors = Rs. 50, 000 .Amount not paid by C = Rs. 10, 000 .Amount recovered = 50, 000 - 10, 000 = Rs. 40, 000 .

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Case studyA and B were partners in a partnership firm. Due to the ill health of B they decided to dissolve the firm. The position of Assets and Liabilities on the date of dissolution was: It was agreed that following transactions will take place :A. A wanted to start the business in sole proprietorship So he took Building and Furniture at 10% less than book value.B. All the debtors proved good except a person C who did not pay Rs. 10, 000 .The amount recovered from the debtors is:

Rs. 1, 00, 000

Rs. 40, 000

Rs. 50, 000

Rs. 60, 000

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