Self Studies

Dissolution of ...

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  • Question 1
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    What journal entry you will record to close the partners’ capital accounts showing positive balance at the time of dissolution?

  • Question 2
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    Creditor’s paid ₹58000 in full settlement of 65000. By what amount Bank account should be credited

  • Question 3
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    Undistributed balance (debit) of Profit and loss account ₹90000. The firm has three partners A, B and C. By what amount B’s account should be Debited

  • Question 4
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    Investment (face value ₹18000) were taken over by the partners in the profit sharing ratio (5:4:3) at ₹12000. The firm has three partners A , B and C.Investment amount transfer to B’s Capital account should be

  • Question 5
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    Anil and Baman were partners sharing  profits and losses equally. The firm dissolved on 15 march 2012, which resulted a loss of ₹30000.On that date, capital account of Anil showed a credit balance of ₹20000.Transfer of loss to capital account of Anil will be

  • Question 6
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    A and B share profits and losses in the ration of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realisation A/c. As unrecorded Entries to effect of Deferred Advertisement Expenditure A/c appeared in the book at ₹28,000 to be written off. By what amount B’s account should be debited for the same?

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