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On taking responsibilty of payment of ...

On taking responsibilty of payment of Realisation expenses by a partner, the Account credited will be :

A

Realisation account

B

Cash Account

C

Capital account of the partner

D

None of the above

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The correct Answer is:
C
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Realisation Account

Balance Sheet of P , Q and R as at 31st March , 2019 , who were sharing profits in the ratio of 5 : 3 : 1 , was : The partners dissolved the business . Assets realised - Stock ₹ 23, 400 , Debtors 50% , Fixed Assets 10% less than their book value . Bills Payable were settled for ₹ 32, 000 . There was an Outstanding Bill of Electricity ₹ 800 which was paid off . Realisation expenses ₹ 1,250 were also paid. Prepare Realisation Account, Partner's Capital Accounts and Bank Account .

DK GOEL-DISSOLUTION OF A PARTNERSHIP FIRM-MULTIPLE CHOICE QUESTIONS
  1. At time of dissolution of partnership firm , the balance of profi...

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  2. On Dissolution of a firm , a partner paid Rs. 700 for firm 's Real...

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  3. On taking responsibilty of payment of Realisation expenses by a p...

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  4. On dissolution of firm .Loss calculate in realisation account is ...

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  5. Profit or loss of realisation account is transferred to :

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  6. Which of the following is transferred to Realisation Account :

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  7. Which of the following in not transferred to Realisation Account:

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  8. On taking Responsibility of payment of a liability of Rs, 50,000 by Pa...

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  9. Cash Balance shown in the Balance sheet is shown on dissolution...

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  10. On Firm 's Dissolution , on realisation of goodwill (which was shown...

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  11. On dissolution of a firm ,Its Balance sheet revealed total credot...

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  12. On Firm 's Dissolution ,when a partner voluntarily gives his person...

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  13. On Dissolution of the firm , amount received from sale of unreco...

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  14. On dissolution ,when a patner takes over an asset ………… is debited

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  15. In case of dissolution ,assets are transferred to realisation Ac...

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  16. On dissolution, the balance of a partner's capital account appear...

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  17. On dissolution partner's Loan transferred to :

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  18. Sundry creditors amounted to Rs, 8,000 These were paid at a disco...

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  19. There was an Unrecorded asset of Rs, 2,000 which was taken over ...

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  20. On Dissolution of a firm , an unrecorded furniture of the value o...

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