From the information provided below, calculate various questions asked in questions.

Following is the Balance Sheet of Ashwani and Bharat on March 31, 2024.

Balance Sheet Ashwani and Bharat as on March 31, 2024

 The firm was dissolved on that date. The following was agreed transactions took place.

(i) Aswhani promised to pay Mrs. Ashwani's loan and took away stock for ₹8,000.

(ii) Bharat took away half of the investment at 10% less. Debtors realised for ₹38,000. Creditor's were paid at less of ₹380. Buildings realised for ₹1,30,000, Goodwill ₹12,000 and the remaining Investment were sold at ₹9,000. An old typewriter not recorded in the books was taken over by Bharat for ₹600. Realisation expenses amounted to ₹2,000.

For taking over investment, Bharat's capital will be:

Debited by ₹9,000

The correct answer is option 3- Debited by ₹9,000.

Bharat took away half of the investment at 10% less. Bharat took away half of the investment at 10% less.

Investments = 20,000
Half investments = 20,000/2
                         = 10,000

Discount = 10%
Discount amount = 10,000 x 10/100
                         = 1,000

Took over at = 10,000 - 1,000
                   = 9,000

Journal entry for this-
Bharat's Capital A/c Dr.  9,000
     To Realisation A/c             9,000