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| On dissolution of a firm, its Balance Sheet revealed total creditors Rs50,000; Total Capital Rs48,000; Cash Balance Rs3,000. Its assets were realised at 12% less. Loss on realisation will be : |
6000 10750 11400 None of the above. |
| 11400 |
| Loss on Realisation of assets= (Creditors+Total Capital-cash) *12% = (50,000+48,000-3000)*12/100 =95000*12/100 =11,400 |
