CUET Accountancy - On dissolution of a firm, bank overdraft is transferred to: | PYQs + Solutions

CUET Accountancy

Partnership

Medium

Bank Account

Realisation Account

Partners' Capital Account

Partners' Loan Account

✅ Correct Option: 2

Related questions:

13 May Shift 2

The sum due to the retiring partner and to the legal representatives/executors (in case of death) includes the following, in addition to credit balance of his capital/current A/c, share of goodwill, gain on revaluation of assets and liabilities.

2 June Shift 2

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5:3:2. Tarun retires from the firm and his share was taken over by Naveen and suresh in the ratio 2:1. In such a case, the new share of profit will be .

22 May Shift 1

At the time of retirement of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

CUET Accountancy PYQs

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