Credit balance of Capital account of the partner was ₹50,000. Share of loss on realisation amounted to ₹10,000. Firm's liability taken over by him was for ₹8,000. On the basis of above data, how much final payment will be made to a partner on firm's dissolution?
Answer & explanation
Correct answer: option 2
Final payment to partner = 50,000(Capital) + 8,000(Liability of firm taken over) - 10,000(Share of loss on realisation) = ₹48,000