Self Studies

Dissolution of ...

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  • Question 1
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    If creditors given in the balance sheet ₹30,000. Stock costing ₹10,000 taken over by creditors at market price of ₹8,000 at the time of dissolution of partnership firm and balance amount paid in cash after deducting a discount of 10%. How much amount is paid in cash?

  • Question 2
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    All _____ liabilities are transferred to the ____ side of Realisation account

  • Question 3
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    Following accounts will be shown on debit side of Realisation Account except

  • Question 4
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    If a partner agreed to pay the unrecorded liability then ______


  • Question 5
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    Compulsory dissolution takes place when:

  • Question 6
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    At the time of dissolution, how would you treat the loss shown by Profit and Loss A/c in the Balance Sheet?

  • Question 7
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    Bank Loan ₹29,000 was paid at the time of dissolution. What journal entry will be recorded for the same?


  • Question 8
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    What journal entry will take place when loan of partner ₹60,000 is paid at the time of dissolution?

  • Question 9
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    When Asset is taken over by a creditor:

  • Question 10
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    How would you treat investment fluctuation reserve given in the balance sheet at the time of dissolution?

  • Question 11
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    Compulsory dissolution will take place when _______

  • Question 12
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    A and B share profits and losses in the ratio of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realisation A/c. It is found that an unrecorded Computer was realized ₹7,000. How would you record it?

  • Question 13
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    According to Indian Partnership Act 1932 Dissolution of firm means:


  • Question 14
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    When realized value of goodwill is given in adjustment, it indicates that ________

  • Question 15
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    Which of the following Reserve or fund is not transferred to the Realisation Account?

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