On 1/4/22, X and Y decided to dissolve their firm. On that date of dissolution, Goodwill appeared at Rs. 5,00,000 in the Balance Sheet. Goodwill will be: Option 1: Transferred to the debit side of realisation A/C Option 2: Transferred to the credit side of partner's Capital A/c in their profit sharing ratio Option 3: Transferred to the credit side of realisation A/c Option 4: Transferred to cash account

The answer is 'Transferred to the debit side of realisation A/C'. View full solution:

CUET Accountancy - On 1/4/22, X and Y decided to dissolve their firm. On that date of dissolution, Goodwill appeared at Rs. 5,00,000 in the Balance Sheet. Goodwill will be: | PYQs + Solutions

CUET Accountancy 2022 20 Aug Shift 2

Partnership

Easy

Transferred to the debit side of realisation A/C

Transferred to the credit side of partner's Capital A/c in their profit sharing ratio

Transferred to the credit side of realisation A/c

Transferred to cash account

✅ Correct Option: 1