Question 32 Not yet answered Marked out of 4.00 P Flag question Mr. Suhail and Mr. Ahamad Jumma are partners, who share profit in the ratio of 3:2. Following is the balance sheet as on March 31, 2020. Balance Sheet of Mr. Suhail and Mr. Ahamad Jumma as on March 31, 2020 Liabilities Amount (OMR) Assets Amount (OMR) Mr. Suhail's Capital 85,000 Cash and Bank 101000 Mr. Ahamed Jumma's Capital 43,000 Stock 35,000 Sundry Creditors 116,000 Sundry debtors: 62,000 63,000 Reserve fund 47,000 Less: Provision: 1000 Fixed Assets 93,000 291,000 291,000 The firm was dissolved on March 31, 2020. Close the books of the firm with the following information: Debtors realized at a discount of 5% (1) Stock realized at OMR 34,500 () Fixed assets realized at OMR 99,000 (iv) Realization expenses of OMR 500 (1) Creditors are paid in full. Fay question Liabilities Amount (OMR) Assets Amount (OMR) Mr. Suhail's Capital 85,000 Cash and Bank 101000 Mr. Ahamed Jumma's Capital 43,000 Stock 35,000 Sundry Creditors 116,000 Sundry debtors: 62,000 63,000 Reserve fund 47,000 Less: Provision: 1000 Fixed Assets 93,000 291,000 291,000 The firm was dissolved on March 31, 2020. Close the books of the firm with the following information: O Debtors realized at a discount of 5% (6) Stock realized at OMR 34,500 () Fixed assets realized at OMR 99,000 (iv) Realization expenses of OMR 500 1 Creditors are paid in full. 1. Realization account show A credit balance of OMR 2,850 None of the listed choices A debit balance of OMR 1,710 A credit balance of OMR 1,140 (ii) Stock realized at OMR 34,500 (ii) Fixed assets realized at OMR 99,000 (iv) Realization expenses of OMR 500 (v) Creditors are paid in full. 1. Realization account shows: 2. How much amount will be transferred to Mr. Suhail's capital account? OMR 1,710 OMR 2,850 OMR 1,140 None of the listed choices 3. How much amount will be transferred to Mr. Ahamed Jumma's capital account? 4. Mr. Suhail's and Mr. Ahamed Jumma's capital account shows: Stock realized at OMR 34,500 (ii) Fixed assets realized at OMR 99,000 (iv) Realization expenses of OMR 500 (v) Creditors are paid in full. 1. Realization account shows: 2. How much amount will be transferred to Mr. Suhail's capital account? 3. How much amount will be transferred to Mr. Ahamed Jumma's capital account? None of the listed choices OMR 1,140 OMR 1,710 OMR 2,850 4. Mr. Suhail's and Mr. Ahamed Jumma's capital account shows: (iv) Realization expenses of OMR 500 W Creditors are paid in full. 1. Realization account shows: . 2. How much amount will be transferred to Mr. Suhail's capital account? 3. How much amount will be transferred to Mr. Ahamed Jumma's capital account? 4. Mr. Suhail's and Mr. Ahamed Jumma's capital account shows: Debit balance of OMR 62,940 OMR 114,910 None of the listed choices Credit balance of OMR 114,910 OMR 62,940 Debit balance of OMR 114,910 OMR 62,940 22
