On dissolution of a firm, the amount of loan taken from partner by firm will be transferred to

Unrecorded liabilities when paid at the time of dissolution of a partnership firm, are shown in:

While settlement of Accounts, what should be the order of application of assets of Firm

(A) In paying the debts of the firm to the third parties

(B) In paying to each partner proportionately what is due to him on account of capital

(C) divided among the partners in their profit sharing ratio.

(D) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)

Choose the correct answer from the options given below:

As per Section 48 of the Partnership Act 1932, which of the following will be utilized for payment of losses, including deficiencies of capital:

(A) Out of Profits

(B) Out of capital of Partners

(C) By partners individually in their profit sharing ratio

(D) Creditors Assets

Choose the correct answer from the options given below:

On dissolution of a firm, bank overdraft is transferred to:

At the time of dissolution of a firm, the Bank Loan was Rs. 60,000 which was paid by Bhuvan (a partner) along with one-year interest at 6 %, which journal entry will be passed in the books of the firm :-

On dissolution of partnership, goodwill account is transferred to :