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Amount credited to a retiring partner in his capital account is Rs 2,01,000. He took over investment at Rs.58,000.He also took over 20% of the debtors.The amount transferred to his loan account is 1,23,000.What is the total value of debtors?
Verified Answer
Amount credited to a retiring partner in his capital account is Rs 2,0...
To determine the total value of the debtors, you can use the information provided to set up an equation and solve for the unknown value.
Let X be the total value of the debtors.
Since the partner took over 20% of the debtors, the value of the debtors that he took over is 20/100 * X = 0.2X.
The value of the debtors that was transferred to the partner's loan account is 123,000, which is equal to 0.2X.
Solving for X, we get:
X = 123,000 / 0.2 = 615,000
Thus, the total value of the debtors is 615,000.
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Amount credited to a retiring partner in his capital account is Rs 2,0...
Calculation of Total Value of Debtors
Given information:
- Amount credited to retiring partner's capital account: Rs 2,01,000
- Investment taken over by retiring partner: Rs 58,000
- Retiring partner took over 20% of the debtors
- Amount transferred to retiring partner's loan account: Rs 1,23,000
Step 1: Calculate the Total Investment of the Retiring Partner
The retiring partner took over the investment at Rs 58,000. This amount is already given. Therefore, the total investment of the retiring partner is Rs 58,000.
Step 2: Calculate the Amount Transferred to the Retiring Partner's Loan Account
The amount transferred to the retiring partner's loan account is Rs 1,23,000. This amount is already given. Therefore, the total amount transferred to the retiring partner's loan account is Rs 1,23,000.
Step 3: Calculate the Amount Credited to the Retiring Partner's Capital Account
The amount credited to the retiring partner's capital account is Rs 2,01,000. This amount is already given. Therefore, the total amount credited to the retiring partner's capital account is Rs 2,01,000.
Step 4: Calculate the Total Amount Paid to the Retiring Partner
To calculate the total amount paid to the retiring partner, we need to add the amounts transferred to the loan account and credited to the capital account.
Total amount paid to the retiring partner = Amount transferred to loan account + Amount credited to capital account
Total amount paid to the retiring partner = Rs 1,23,000 + Rs 2,01,000
Total amount paid to the retiring partner = Rs 3,24,000
Step 5: Calculate the Total Value of Debtors
The retiring partner took over 20% of the debtors. Let's assume the total value of debtors as 'D'.
Amount taken over by the retiring partner = 20% of D
20% of D = Rs 58,000
D = Rs 58,000 / 20%
D = Rs 2,90,000
Therefore, the total value of debtors is Rs 2,90,000.
Given information:
- Amount credited to retiring partner's capital account: Rs 2,01,000
- Investment taken over by retiring partner: Rs 58,000
- Retiring partner took over 20% of the debtors
- Amount transferred to retiring partner's loan account: Rs 1,23,000
Step 1: Calculate the Total Investment of the Retiring Partner
The retiring partner took over the investment at Rs 58,000. This amount is already given. Therefore, the total investment of the retiring partner is Rs 58,000.
Step 2: Calculate the Amount Transferred to the Retiring Partner's Loan Account
The amount transferred to the retiring partner's loan account is Rs 1,23,000. This amount is already given. Therefore, the total amount transferred to the retiring partner's loan account is Rs 1,23,000.
Step 3: Calculate the Amount Credited to the Retiring Partner's Capital Account
The amount credited to the retiring partner's capital account is Rs 2,01,000. This amount is already given. Therefore, the total amount credited to the retiring partner's capital account is Rs 2,01,000.
Step 4: Calculate the Total Amount Paid to the Retiring Partner
To calculate the total amount paid to the retiring partner, we need to add the amounts transferred to the loan account and credited to the capital account.
Total amount paid to the retiring partner = Amount transferred to loan account + Amount credited to capital account
Total amount paid to the retiring partner = Rs 1,23,000 + Rs 2,01,000
Total amount paid to the retiring partner = Rs 3,24,000
Step 5: Calculate the Total Value of Debtors
The retiring partner took over 20% of the debtors. Let's assume the total value of debtors as 'D'.
Amount taken over by the retiring partner = 20% of D
20% of D = Rs 58,000
D = Rs 58,000 / 20%
D = Rs 2,90,000
Therefore, the total value of debtors is Rs 2,90,000.
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Amount credited to a retiring partner in his capital account is Rs 2,01,000. He took over investment at Rs.58,000.He also took over 20% of the debtors.The amount transferred to his loan account is 1,23,000.What is the total value of debtors?
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Amount credited to a retiring partner in his capital account is Rs 2,01,000. He took over investment at Rs.58,000.He also took over 20% of the debtors.The amount transferred to his loan account is 1,23,000.What is the total value of debtors? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Amount credited to a retiring partner in his capital account is Rs 2,01,000. He took over investment at Rs.58,000.He also took over 20% of the debtors.The amount transferred to his loan account is 1,23,000.What is the total value of debtors? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amount credited to a retiring partner in his capital account is Rs 2,01,000. He took over investment at Rs.58,000.He also took over 20% of the debtors.The amount transferred to his loan account is 1,23,000.What is the total value of debtors?.
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