Partnership

Dissolution

Medium

Match List I with List II

LIST I LIST II
A. Transfer of accumulated profits I. Realisation account
B. Unrecorded asset sold on dissolution of firm II. Profit and Loss Account
C. Manager's commission III. Profit and Loss Appropriation Account
D. Partner's commission IV. Partner's Capital account

Choose the correct answer from the options given below:

LIST I	LIST II
A. Transfer of accumulated profits	I. Realisation account
B. Unrecorded asset sold on dissolution of firm	II. Profit and Loss Account
C. Manager's commission	III. Profit and Loss Appropriation Account
D. Partner's commission	IV. Partner's Capital account

A-IV, B-I, C-III, D-II

A-IV, B-I, C-II, D-III

A-IV, B-II, C-III, D-I

A-IV, B-III, C-II, D-I

✅ Correct Option: 2

Accumulated profits are transferred to Partners' Capital Accounts (A-IV). Unrecorded asset sold at dissolution is credited to Realisation Account (B-I). Manager's commission is a charge against profit, debited to Profit and Loss Account (C-II). Partner's commission is an appropriation, debited to Profit and Loss Appropriation Account (D-III).

2025: 3 June Shift 2

The dissolution of partnership may take place in any of the following ways except:

2026: 29 May Shift 2

At the time of dissolution, creditors appear at Rs 50,000. Half of the creditors agreed to take unrecorded furniture of Rs 18,000 and Rs 5,000 in full settlement and the remaining creditors were paid 90%. The amount paid to the creditors that will be shown in the Realisation A/c is:

2022: 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.

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(Accounting standards Section of Act.)	(Issues)
(A) AS-3	(I) Settlement Of Accounts.
(B) AS-26	(II) Firm's debt and private debt
(C) Section 48 of the Indian partnership Act	(III) Cash flow statement.
(D) Section 49 of the Indian partnership Act	(IV) Treatment of goodwill.

Choose the correct answer from the options given below:

2025: 27 May Shift 1

In the case of a dissolution of a firm, accumulated losses are transferred to:

2022: 20 July Shift 1

A firm may not be dissolved by court in the following condition :

Solution

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