The accumulated profits and reserve are transferred to: Option 1: Revaluation A/C Option 2: Realisation A/C Option 3: Partner's Capital A/C Option 4: Cash/Bank A/C

The answer is 'Partner's Capital A/C'. View full solution:

CUET Accountancy - The accumulated profits and reserve are transferred to: | PYQs + Solutions

CUET Accountancy 2022 30 Aug Shift 2

Partnership

Easy

Revaluation A/C

Realisation A/C

Partner's Capital A/C

Cash/Bank A/C

✅ Correct Option: 3

Related questions:

23 Aug Shift 2

On 1st April 2022, A, B and C decided to dissolve their firm On the date of dissolution, Sundry debtors appeared in Balance Sheet at Rs. 6,00,000 and Provision for doubtful debt at Rs. 30,000 Debtors to extent of Rs. 60,000 were bad. In journal entry for realisation of debtors.

3 June Shift 2

According to Section ______ of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

29 May Shift 2

Match List-I with List-II

List-I	List-II
(A). Payment of loans due to partners	(i). Realisation A/c Dr To Bank A/c
(B). For settlement of partners' accounts, in case their capital account shows a debit balance.	(ii). Bank A/c Dr. To loan to partners A/c
(C). For settlement of loan by a firm to a partner:	(iii) Bank A/c Dr. To Partner's Capital A/c
(D). For settlement of any unrecorded liability	(iv) Partner's Loan A/c Dr. To Bank A/c

Choose the correct answer from the options given below:

CUET Accountancy 2022 30 Aug Shift 2 PYQs

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