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Assets were ₹150000 and realised ₹164000. Liabilities were ₹55000 and paid at ₹59000. What is the result of Realisation Account?

Answer and explanation

Correct answer: ₹10000 profit

Gain on assets is ₹14000 but extra payment on liabilities is ₹4000 loss. Net realisation profit is ₹10000.

Related tags

AccountancyRealisation ProfitNumericalRealisation AccountDissolution Of A Partnership FirmClass 12 Mcq

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