At the time of dissolution of a partnership firm, the stock appeared in the books was Rs 35,000. One of the partner took over 50% of the stock at 10% less than its book value, and the remaining stock was sold at a gain of 15%. Find the total amount realized from the stock in cash.

Which account is debited for Realisation expenses paid?

A firm is dissolved compulsorily in the following cases:

(A) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract

(B) when the business of the firm becomes illegal

(C) when the business of the firm is earning a large amount of profit.

(D) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership

Choose the correct answer from the options given below:

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

On dissolution of a firm, partner's loan account is transferred to:

Arrange how the losses, including deficiencies of capital, shall be paid in the correct sequence :

(A) Out of profits

(B) Out of capital of partners

(C) In their profit sharing ratio (Individually by partners)

Choose the correct answer from the options given below:

In case of dissolution of firm, if a partner agrees to take over the debtors of Rs. 80,000 at 10% discount, the entry for the same shall be: