Partnership

Dissolution

Medium

common

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:

Rs. 27,500

Rs. 45,500

Rs. 40,500

Rs. 48,000

✅ Correct Option: 1

First half of creditors ( $25,000$ ) took unrecorded furniture plus cash of $5,000$ ; only the cash is a payment. Remaining creditors of $25,000$ were paid $90$ per cent $= 22,500$ . Total cash shown on the debit side of Realisation A/c $= 5,000 + 22,500 = 27,500$ .

2025: 4 June Shift 2

In case of Fixed Capital Method, at the time of dissolution of a firm, An un-recorded asset are taken over by a partner, which Journal Entry will be recorded in the books of the Partnership Firm :-

2026: 23 May Shift 2

Which of the following does NOT happen on the dissolution of a partnership?

2025: 15 May Shift 1

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.

2025: 15 May Shift 2

Which of the following event take place in the case of dissolution of a partnership firm

2026: 19 May Shift 1

Choose the correct statement/ statements related to the dissolution of the firm from the following.

(A) Accumulated profits and reserves are transferred to realisation account.

(B) On dissolution of the firm, the partner's capital accounts are closed through realisation account.

(C) After transferring liabilities like creditors and bills payables to the realisation account, in the absence of any information regarding their payment, such liabilities are treated as never paid

(D) Partner's loan account is not transferred to realisation account.

Choose the correct answer from the options given below:

2026: 13 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Realisation expenses are incurred and paid by the firm	(I) No Entry
(B) Realisation expenses are paid by a partner on behalf of the firm	(II) Realisation A/c Dr.\nTo Bank A/c
(C) Partner himself pays the realisation expenses	(III) Partner's Capital A/c Dr.\nTo Bank A/c
(D) Partner has agreed to bear the realisation expenses but expenses are paid by the firm	(IV) Realisation A/c Dr.\nTo Partner's Capital A/c

Choose the correct answer from the given options below:

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:

Solution

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