9:null 17:T4f4,undefined At the time of dissolution, when a loan from a partner is sett<=d at a discount, the full liability must be written off, the actual payment made, and the gain (discount received) credited to Realisation Account. **Given Information:** - Loan from Partner = Rs. 50,000 - Amount Actually Paid = Rs. 45,000 - Discount Received = Rs. 5,000 The loan liability of Rs. 50,000 needs to be comp<=tely closed. Since only Rs. 45,000 is paid, the firm gains Rs. 5,000 (pays <=ss than what was owed). This gain is credited to Realisation Account as it represents a profit on sett<=ment during dissolution. **Journal Entry:** | Particulars | L.F. | Debit (Rs.) | Credit (Rs.) | |-------------|------|-------------|--------------| | Loan from Partner A/c Dr. | | 50,000 | | | To Bank A/c | | | 45,000 | | To Realisation A/c | | | 5,000 | | (Loan sett<=d at a discount) | | | | **Why Option 1 is correct:** The entry debits the full loan amount (Rs. 50,000) to close the liability comp<=tely. Bank A/c is credited with the actual cash paid (Rs. 45,000), and Realisation A/c is credited with the difference (Rs. 5,000) as it represents a gain to the firm during dissolution. All gains and losses on sett<=ment of assets and liabilities are routed through Realisation Account.18:T4f4,undefined At the time of dissolution, when a loan from a partner is sett<=d at a discount, the full liability must be written off, the actual payment made, and the gain (discount received) credited to Realisation Account. **Given Information:** - Loan from Partner = Rs. 50,000 - Amount Actually Paid = Rs. 45,000 - Discount Received = Rs. 5,000 The loan liability of Rs. 50,000 needs to be comp<=tely closed. Since only Rs. 45,000 is paid, the firm gains Rs. 5,000 (pays <=ss than what was owed). This gain is credited to Realisation Account as it represents a profit on sett<=ment during dissolution. **Journal Entry:** | Particulars | L.F. | Debit (Rs.) | Credit (Rs.) | |-------------|------|-------------|--------------| | Loan from Partner A/c Dr. | | 50,000 | | | To Bank A/c | | | 45,000 | | To Realisation A/c | | | 5,000 | | (Loan sett<=d at a discount) | | | | **Why Option 1 is correct:** The entry debits the full loan amount (Rs. 50,000) to close the liability comp<=tely. Bank A/c is credited with the actual cash paid (Rs. 45,000), and Realisation A/c is credited with the difference (Rs. 5,000) as it represents a gain to the firm during dissolution. All gains and losses on sett<=ment of assets and liabilities are routed through Realisation Account.10:[["$","title","0",{"children":"CUET Accountancy - What journal entry will be passed for settlement of loan from a partner of Rs. 50,000 by paying Rs. 45,000 at the time of dissolution of a firm :- | PYQs + Solutions | AfterBoards"}],["$","meta","1",{"name":"description","content":"$17"}],["$","link","2",{"rel":"manifest","href":"https://www.afterboards.in/manifest.json","crossOrigin":"$undefined"}],["$","meta","3",{"name":"keywords","content":"CUETACC,ACC,Partnership,Dissolution"}],["$","meta","4",{"name":"robots","content":"index, follow"}],["$","meta","5",{"name":"category","content":"education"}],["$","meta","6",{"name":"google-site-verification","content":"google"}],["$","meta","7",{"property":"og:title","content":"CUET Accountancy - What journal entry will be passed for settlement of loan from a partner of Rs. 50,000 by paying Rs. 45,000 at the time of dissolution of a firm :- | PYQs + Solutions"}],["$","meta","8",{"property":"og:description","content":"$18"}],"$L19","$L1a","$L1b","$L1c","$L1d","$L1e","$L1f","$L20","$L21","$L22","$L23","$L24","$L25","$L26","$L27","$L28","$L29","$L2a"]

CUET Accountancy 2025 4 June Shift 2 PYQs

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