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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 2 · Set 2 · Q11
Total assets of a partnership firm, which was dissolved were ₹ 30,00,000 and its total liabilities were ₹ 6,00,000. Assets were realised at 80% and…
Total assets of a partnership firm, which was dissolved were ₹ $\displaystyle 30,00,000$ and its total liabilities were ₹ $\displaystyle 6,00$,000. Assets were realised at $\displaystyle 80$% and liabilities were settled at $\displaystyle 5$% less. If dissolution expenses were ₹ $\displaystyle 30,000$, the profit or loss on dissolution was :
Official answer
(B)
Loss ₹ $\displaystyle 6,00,000$
Marking-scheme solution
(b)
Loss ₹$\displaystyle 6,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.