Following are the sequence of steps in case of a dissolution of a partnership firm. Arrange the following steps in order:

A. Assets taken over by a partner, and payment of liabilities.

B. Transfer of profit and loss on realisation

C. All assets and all external liabilities are transferred to realisation account.

D. Settlement of partners' accounts

Choose the correct answer from the options given below:

Ram, a partner, has been assigned the responsibility for realization of assets and settlement of liability for which he will be given remuneration of ₹ 10,000. He has to bear all the realization expenses. Actual realization expenses are 12,000. Journal Entry will be

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

On the dissolution of the partnership firm the amount realised from sale of assets shall be applied in following order.

(a) Distributing the amount left among the partners in their profit sharing ratio

(b) Paying amount due to partner on account of loan advanced by him

(c) Paying amount due to the creditors

(d) Paying partners' capital account balances

Choose the correct answer from the options given below :

On the dissolution of a firm, creditors is transferred to:

At the time of the dissolution of a partnership firm in which X, Y and Z were partners sharing profit in 2:2:1 ratio, the following information was made available. Arrange them in the sequence in which they will be paid.

(A) A's Loan to the firm Rs 50,000

(B) Creditors Rs 2,00,000

(C) A's Capital Rs 2,50,000 , B's Capital Rs 2,00,000 and C's Capital Rs 1,00,000

(D) Balance available after settlement of all the stakeholders.

Choose the correct answer from the options given below:

In case of the dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. Arrange in the correct manner and order the assets of the firm, including any sum contributed by the partners to make up for deficiencies of capital:

(A) In paying to each partner proportionately what is due to him on account of capital

(B) In paying the debts of the firm to the third parties

(C) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)

(D) The residue, if any, shall be divided among the partners in their profit sharing ratio

Choose the correct answer from the options given below: