Partnership

Dissolution

Easy

common

On dissolution of the firm, Partners' Capital Account are closed through:

Realisation Account

Balance carried forward

Bank Account

Partners' Current Account

✅ Correct Option: 3

After transferring realisation profit or loss, reserves and the balances of current accounts, the final balance of each partner's capital account is settled in cash. A partner with a credit balance is paid from the bank and one with a debit balance brings in cash. Hence capital accounts are closed through the Bank or Cash Account.

2026: 31 May Shift 1

When realisation expenses are paid by the firm on behalf of a partner, such expenses are debited to:

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(Events)	(Result.)
(A) Termination of business.	(I) Not Possible In Dissolution Of Partnership.
(B) Continuation Of Business	(II) Not possible in the dissolution of a firm.
(C) Intervention of court.	(III) Dissolution of firm
(D) Continuation of books of accounts.	(IV) Dissolution of partnership.

Choose the correct answer from the options given below:

2025: 2 June Shift 2

Unrecorded Debtors, are realised at the time of dissolution of a Partnership Firm, will be shown in:

2025: 31 May Shift 1

After transferring liabilities like creditors and bills payables in the Realisation Account, in the absence of any information regarding their payment, such liabilities are treated as:

2023: 28 May Shift 1

On dissolution of partnership, goodwill account is transferred to :

2025: 13 May Shift 2

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

On dissolution of the firm, Partners' Capital Account are closed through:

Solution

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