Select the items shown on the debit side of Realisation A/c :

A. Cash in hand

B. Intangible assets

C. Fictitious assets

D. Bills Receivables

Choose the correct answer from the options given below:

In case of dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be applied in the following manner and order:

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

(B) The residue, if any, shall be divided among the partners in their profit sharing ratio.

(C) In paying the debts of the firm to third parties.

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

Choose the correct answer from the options given below:

At the time of dissolution of a partnership firm goodwill does not appears in the balance sheet but a partner took over it at Rs. 60,000 for cash, how this transaction will be recorded in firm's books.

Romesh took over Investments at Rs.8,100 which is 10% less then its book value. The book value of the investment was ____

Unrecorded assets when taken over by a partner are shown on:

Stock at the time of dissolution was appearing in books at Rs 50,000. Half of the stock was sold at a discount of 20% and the remaining was taken over by one of the partners at a 10% discount. What amount was received in cash at the time of realization of stock.

In which of the following the Economic relationship between the partners comes to an end?