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If creditors given in the balance sheet ?30,000. Stock costing ?10,000 taken over by creditors at market price of ?8,000 at the time of dissolution of partnership firm and balance amount paid in cash after deducting a discount of 10%. How much amount is paid in cash?
  • a)
    19,800
  • b)
    18,000
  • c)
    30,000
  • d)
    22,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
If creditors given in the balance sheet ?30,000. Stock costing ?10,000...
Calculation of the amount payable to the creditors:
Total amount payable to the creditors ?30,000
Asset taken over by creditors at market price ?8,000.
Now amount due to the creditors is ?22,000 (30,000 – 8,000)
Final payment to creditors in cash = 22,000 – 2,200 (discount) = 19,800
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Community Answer
If creditors given in the balance sheet ?30,000. Stock costing ?10,000...
Creditors =30000 stock given to creditors for=8000 remaining amount =22000 amount paid to creditors after deducting discount=22000-22000×10/100 22000-2200=19800
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If creditors given in the balance sheet ?30,000. Stock costing ?10,000 taken over by creditors at market price of ?8,000 at the time of dissolution of partnership firm and balance amount paid in cash after deducting a discount of 10%. How much amount is paid in cash?a)19,800b)18,000c)30,000d)22,000Correct answer is option 'A'. Can you explain this answer?
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