Partnership

Dissolution

Medium

Aman and Mohan, partners of a firm decided to dissolve the business on 31-03-22. The firm decided to pay realisation expenses of Rs. 1,000 on behalf of Mohan. Rs.1000 will be debited to

Realisation A/C

Mohan's capital A/C

Bank A/C

Aman's capital A/C

✅ Correct Option: 2

When the firm pays realisation expenses on behalf of a partner (Mohan), these are the partner's personal liability. The firm reduces the partner's capital by passing entry: Mohan's Capital A/c Dr. To Bank A/c. Hence Rs. 1,000 is debited to Mohan's Capital A/c.

2025: 16 May Shift 1

Investment Fluctuation Reserve will be

2023: 11 June Shift 3

Which of the following will not be shown in Realisation Account ?

2025: 15 May Shift 2

Neil, Kapil, Sunil started a furniture business in partnership. After one year of their operation, they started exporting Opium by keeping them in blank spaces between the furniture. As authorities came to know about the illegal business of the firm, they will compel them for .......

2025: 15 May Shift 2

In which of the following case court can order dissolution of a partnership firm.

2023: 20 June Shift 2

Arrange the following in the context of dissolution of partnership firm.

A. Payment of loan from Partners

B. Payment of secured outsider's liabilities

C. Realisation of assets into cash

D. Settlement of partner's capital

E. Payment of unsecured outsider's liability

Choose the correct answer from the options given below:

2025: 27 May Shift 2

At the time of dissolution of a Firm, the Loan from a Partner Account should be

Aman and Mohan, partners of a firm decided to dissolve the business on 31-03-22. The firm decided to pay realisation expenses of Rs. 1,000 on behalf of Mohan. Rs.1000 will be debited to

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