Practicing Success
X, Y & Z are partners in a partnership firm. They decided to dissolve the firm for which firm borne the realisation expenses of ₹20,000. On the date of dissolution following information is available- X's Capital = ₹5,00,000 ADDITIONAL INFORMATION-
|
What is the realised value of land and building? |
₹8,50,000 ₹8,75,000 ₹9,00,000 ₹9,75,000 |
₹9,00,000 |
The correct answer is option 3- ₹9,00,000. Value of land & building = 8,00,000 Realised value = 8,00,000 + 1,00,000 |