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Gaurav and Sourav are partner of a firm their balance sheet on the date of dissolution show combined balance of capital rupees 126000 balance of credit rupees 24000 and Debit balance of profit and loss account rupees 12000 acids are sold at a profit of 16000 rupees total amount realised from asset is dash?
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Gaurav and Sourav are partner of a firm their balance sheet on the dat...
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Introduction


In this question, we need to find out the total amount realized from assets after the dissolution of the firm. The given information includes the combined balance of capital, credit balance, and debit balance of profit and loss account. We also know that assets are sold at a profit of Rs. 16,000.

Calculation of Total Amount Realized


To calculate the total amount realized from assets, we need to follow the below steps:

1. Calculate the total capital of the firm by adding the combined balance of capital and credit balance.

Total capital = Combined balance of capital + Credit balance
Total capital = Rs. 126,000 + Rs. 24,000
Total capital = Rs. 150,000

2. Add the profit earned by selling assets to the total capital.

Total amount realized = Total capital + Profit earned by selling assets
Total amount realized = Rs. 150,000 + Rs. 16,000
Total amount realized = Rs. 166,000

3. Subtract the debit balance of profit and loss account from the total amount realized.

Total amount realized = Total amount realized - Debit balance of profit and loss account
Total amount realized = Rs. 166,000 - Rs. 12,000
Total amount realized = Rs. 154,000

Therefore, the total amount realized from assets after the dissolution of the firm is Rs. 154,000.

Conclusion


In conclusion, we can say that the total amount realized from assets after the dissolution of the firm is Rs. 154,000. It is calculated by adding the total capital and profit earned by selling assets and then subtracting the debit balance of profit and loss account.
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Gaurav and Sourav are partner of a firm their balance sheet on the date of dissolution show combined balance of capital rupees 126000 balance of credit rupees 24000 and Debit balance of profit and loss account rupees 12000 acids are sold at a profit of 16000 rupees total amount realised from asset is dash?
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Gaurav and Sourav are partner of a firm their balance sheet on the date of dissolution show combined balance of capital rupees 126000 balance of credit rupees 24000 and Debit balance of profit and loss account rupees 12000 acids are sold at a profit of 16000 rupees total amount realised from asset is dash? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Gaurav and Sourav are partner of a firm their balance sheet on the date of dissolution show combined balance of capital rupees 126000 balance of credit rupees 24000 and Debit balance of profit and loss account rupees 12000 acids are sold at a profit of 16000 rupees total amount realised from asset is dash? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gaurav and Sourav are partner of a firm their balance sheet on the date of dissolution show combined balance of capital rupees 126000 balance of credit rupees 24000 and Debit balance of profit and loss account rupees 12000 acids are sold at a profit of 16000 rupees total amount realised from asset is dash?.
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