Dissolution of Partnership Firm

On dissolution of partnership, goodwill account is transferred to :

On dissolution of a firm, out of the proceeds received from the sale of
the assets will be paid first of all to :-

On Dissolution of partnership firm out of total debtors of ₹2,50,000, ₹10,000 became bad and the rest realised 70%. In the given case Bank A/c will be debited by:

Unrecorded Liabilities when paid are shown in :-

At the time of dissolution of firm, book value of assets is recorded in which side of Realisation Account ?

An unrecorded asset is taken over by a creditor in full settlement. In such a case:

Reconstruction of partnership does not involve:

When a partner takes responsibility to make payment of any outside liability of the firm, the account credited will be

On dissolution of a firm, the amount of loan taken from a partner by the firm will be transferred to:

A firm can be voluntarily dissolved by the partners :-

When realisation expenses are paid by the partner on behalf of a firm, which account will be credited?

On the happening of certain contingencies, Subject to contract between the partners, a firm is dissolved,
(A) If constituted for a fixed term, by the expiry of that term.
(B) If constituted to carry out one or more ventures, by the completion thereof.
(C) By the death of a partner
(D) By the adjudication of a partner as an insolvent
Choose the correct answer from the options given below:

According to Indian Partnership Act, 1932, when the firm is dissolved, cash received on sale of assets are applied in following order:
(A) Paying to each partner proportionately what is due to him/her on account of capital
(B) In paying the secured debts of the firm to the third parties
(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital
(D) The residue, if any shall be divided among the partner's in their profit sharing ratio
(E) In paying unsecured debt of firm to third parties

Choose the correct answer from the options given below :

Rohit a partner paid the realisation expenses of ₹10,000 and he was to get a remuneration of ₹12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his capital \(\mathrm{A}/\mathrm{c}\) will be :

Unrecorded assets when taken over by a partner are shown in :-

On dissolution, if a partner undertakes to make a payment of a Liability
of the firm, the amount to be debited is :-

If at the time of dissolution nothing is said about liabilities, then

Section 49 of the Indian Partnership Act 1932, deals with:

On dissolution, when a partner takes over an asset, which account is
debited ?

Match the items in List I with those in List II

Anubha looked after the dissolution work for remuneration of ₹8,500 and agreed to bear dissolution expenses up to ₹6,000. Actual expenses paid by her were ₹7,600. What will be the journal entry for remuneration payable to Anubha?
(A) Realisation A/c is debited by ₹8,500
(B) Anubha's Capital A/c is credited by ₹8,500.
(C) Realisation A/c is debited by ₹13,600.
(D) Anubha's Capital is credited by ₹13,600.
Choose the correct answer from the options given below:

Amount realised from sales of assets, on dissolution of firm is recorded in

On dissolution of the firm, partners Capital Accounts are closed
through :-

Unrecorded Debtors, which are realised at the time of dissolution of a Partnership Firm, will be shown in:

The order to be followed in preparation of the realisation account is

(A) Realisation of the assets

(B) Transfer assets and liabilities to realisation account

(C) Ascertainment of profit or loss on realisation

(D) Payment of liabilities

Choose the correct answer from the options given below: