Dissolution of ...

Compulsory dissolution will take place when _______

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?

According to Indian Partnership Act 1932 Dissolution of firm means:

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

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

Total creditors of the firm (already transferred to Realisation Account) were ₹30,000. Out of this, creditors waived their claim of ₹5,000 while the rest agreed to allow discount @ 10% of their respective claim.

Asset taken over by partner will be shown in:

All the assets of the firm are _____ and all outsiders’ liabilities and partners’ loan and partners capitals are ___ at the time of dissolution of firm.

Realisation Account is differ from Revaluation Account as

One Creditor worth ₹4,500 took over stock valued at Rs.5,200 in full satisfaction of his claim.