Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

X, Y, and Z are partners who decided to dissolve their firm. Realization expenses were to be borne by Y for which he was to be given a remuneration of ₹10,000. Actual expenses were ₹12,000. How much amount will be transferred to Y's Capital A/c for it?

Options:

₹22000

₹12000

₹2000

₹10000

Correct Answer:

₹10000

Explanation:

For agreed remuneration to such partner who agrees to undertake the dissolution work. Only agreed remuneration if given whether expenses are less or more.