Match List-I with List-II
List-I List-II (A) Dissolution expenses of Rs. 7,800 were paid by partner. (I) Realisation A/c ......Dr\nTo Bank A/c (B) When a creditor accepts a fixed asset in payment of his dues. (II) No Entry (C) There was an outstanding bill for repairs which had to be paid. (III) Bank A/c ........Dr\nTo Realisation A/c (D) There was an unrecorded investment sold. (IV) Realisation A/c .... Dr\nTo Partner's Capital Account
Choose the correct answer from the options given below so that all items are matched:
Match List-I with List-II
| List-I | List-II |
|---|---|
| (A) Dissolution expenses of Rs. 7,800 were paid by partner. | (I) Realisation A/c ......Dr\nTo Bank A/c |
| (B) When a creditor accepts a fixed asset in payment of his dues. | (II) No Entry |
| (C) There was an outstanding bill for repairs which had to be paid. | (III) Bank A/c ........Dr\nTo Realisation A/c |
| (D) There was an unrecorded investment sold. | (IV) Realisation A/c .... Dr\nTo Partner's Capital Account |
Choose the correct answer from the options given below so that all items are matched:
Solution
✅ Correct Option: 2
Expenses payable by the firm but paid by a partner: Realisation A/c Dr, To Partner's Capital A/c. A creditor taking over an asset needs no entry as both are already in Realisation A/c. Payment of an outstanding repair bill: Realisation A/c Dr, To Bank A/c. Sale of an unrecorded investment: Bank A/c Dr, To Realisation A/c.