The amount of sundry assets transferred to Realization account was Rs. 3,60,000; 50% of these have been sold at a profit of Rs. 75,000; 30% of the remaining assets were sold at a discount of 12% and remaining were taken over by Raman (a partner) at 25% above book value. At what value were the assets taken over by Raman :-

At the time of dissolution, if an asset is taken over by a partner, what journal will be recorded in the books of the firm :-

Rohit a partner paid the realisation expenses of Rs. 10,000 and he was to get a remuneration of Rs. 12,000 for completing the dissolution process and realisation expenses were borne by Rohit. The amount transferred to his capital A/c will be :

Select the correct sequence of payment of the following from the amount realised by the sale of assets on the dissolution of a partnership firm.

A. Partners' capital

B. Residue (if any)

C. Partner's loan

D. Outside liabilities of the firm

Choose the correct answer from the options given below:

In the case of the Dissolution of partnership firm, which accounts are opened:

(A) Realization Account

(B) Revaluation Account

(C) Partners Capital Account

(D) Bank Account

When a firm is dissolved, Provision for Bad and Doubtful Debt Account :-

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