Dissolution Of Partnership CBSE Questions & Answers

Any amount realised from unrecorded assets is ____ to realization account

At the time of dissolution of the firm it is better to merge _____ and ___account

When assets are transferred to Relisation account they are transferred at _____ amount , ____ against the assets is transferred separately

Loan by the relative of a partner is paid before

Partner’s loan account is not transferred to _____ account but is retained as a separate account

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 affect of Computer realized Rs.7,000

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 affect of Stock worth Rs.1,600 was taken over by B at Rs.1,200. What should be journal entry?

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 affect of Deferred Advertisement Expenditure A/c appeared in the book at Rs.28,000 written off. What should be journal entry

P and Q are partners sharing profits and losses equally. They decided to dissolve their firm. Assets and Liabilities have been transferred to Realisation Account. Pass necessary Journal entries for as P was to bear all the expenses of Realisation for which he was given a commission of Rs.4000

A, B and C commenced business on January 1, 2000, with capitals of Rs.50,000, Rs.40,000 and Rs.30,000, respectively. Profits were shares in the ratio of 4:3:3. During 2010 and 2011 they made profits of Rs.20,000 and Rs.25,000 respectively. Each partner withdrew `5,000 per year. On 31st December, 2011, the firm was dissolved. Creditors and cash on that date were Rs.12,000 and Rs.2,000 respectively. The assets realized were Rs.1, 50,000. Creditors were settled for Rs.11,500. Realization expenses were Rs. 500. What will be the profit on realization

During the process of dissolution of partnership, the carrying value of machinery Rs.5000 and building Rs.20,000 while both fixed assets were disposed at the cumulative price of Rs.10,000 and realization cost was up to Rs.2000. Identify what total amount needed to credit or debit in the partners capital accounts –

Manik and Naman share the profits equally. They decided to dissolve their firm. Their liabilities were: Manik’s Capital Rs.25,000; Naman’s Capital Rs.30,000; Creditors Rs.12,500; Bills payable Rs.7,500; Assets of the firm realized Rs.1, 00,000. Profit on a Realization Account

Following is the Balance sheet of Rohit and Deepak who share profits and losses equally as on 31st march 2010. The firm was dissolved. Rohit agreed to take over 50% of the stock at 10% less on its book value. Balance sheet show stock amounted Rs.35000.By what amount Rohit Capital account should be shown on credit side for the above transaction

Following is the Balance sheet of N and P Who share profits and losses equally as on 31st march 2010. The firm was dissolved. N agreed to take over 50% of the stock at 10% less on its book value and the remaining stock was sold at a gain of 15%. Balance sheet show stock amounted Rs.35000. By what amount Bank A/c (stock) should be shown on credit side of realization account

Following is the Balance sheet of K and S who share profits and losses equally as on 31st march 2010. The firm was dissolved .Debtors realized Rs.31,500 (with interest) and Rs.1200 was recovered for bad debts written off last year. Balance sheet show debtor amounted Rs. 25000 By what amount Bank A/c (Debtor) should be shown on credit side of the realization account