Partnership

Dissolution

Easy

common

On dissolution of a firm, creditors are transferred to:

Cash Account

Partner's capital Account

Bank Account

Realisation Aaccount

✅ Correct Option: 4

On dissolution, all external liabilities, including creditors, are transferred to the credit side of the Realisation A/c at book value (Creditors A/c Dr., To Realisation A/c). Their actual payment is then debited to Realisation A/c, so any discount received automatically appears as a realisation gain.

2025: 22 May Shift 1

When realisation expenses are paid by the firm on behalf of a partner, which among the following will be debited:

2025: 31 May Shift 1

According to section .......... of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

2026: 11 May Shift 2

At the time of dissolution of firm, the following information is provided

	Rs.
Sundry debtors	21,500
Less: Provision for doubtful debts	500
	21,000

Debtors realised at a discount of 5%,

Journal entry for realisation of debtors would be :

2025: 27 May Shift 2

Anubha looked after the dissolution work for remuneration of Rs. 8,500 and agreed to bear dissolution expenses upto Rs. 6,000. Actual expenses paid by her were Rs. 7,600. In this case,

(A) Realisation A/c is debited by Rs. 10,100

(B) Anubha's Capital A/c is credited by Rs. 9,600.

(D) Anubha's Capital is credited by Rs. 10100.

Choose the correct answer from the options given below:

2025: 3 June Shift 2

At the time of the Dissolution of a Partnership Firm, which statement is not false :-

2026: 13 May Shift 2

If a partnership firm is being dissolved, a liability taken over by a partner is credited to :

On dissolution of a firm, creditors are transferred to:

Solution

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