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Question
Rama, a partner, took over Machinery of ₹ 50,000 in full settlement of her Loan of ₹ 60,000. Machinery was already transferred to Realisation Account. How it will effect the Realisation Account?
Options
Realisation Account will be credited by ₹ 60,000.
Realisation Account will be credited by ₹ 10,000.
Realisation Account will be credited by ₹ 50,000.
No effect on Realisation Account.
MCQ
Solution
Realisation Account will be credited by ₹ 60,000.
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