CUET Accountancy Partnership > Dissolution PYQs

Bank Account

Partners' capital account

Realisation account

Partners' current account

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35

39

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Bank A/c Dr.

To Realisation A/c

Realisation A/c Dr.

To Bank A/c

Partner's Capital Account A/c Dr.

To Realisation A/c

Partner's Current Account A/c Dr.

To Realisation A/c

(B), (A) (C), (D)

(C), (D), (A), (B)

(B), (A), (D), (C)

(C), (B), (D), (A)

A new partner is admitted into firm.

Firm's business is closed down permanently.

Firm's books of accounts are permanently closed.

Economic relationship between partners comes to an end.

Not Pay, Realisation

Pay, Realisation

Pay, Revaluation

Not pay, revaluation

Loan from Partner A/c Dr. 50,000

To Bank A/c 45,000

To Realisation A/c 5,000

Loan from Partner A/c Dr. 50,000

To Bank A/c 50,000

Realisation A/c Dr. 50,000

To Bank A/c 50,000

Loan from Partner A/c Dr. 45,000

To Bank A/c -45,000

(A), (B) and (D) only

(A), (B) and (C) only

(B) and (D) only

(A) and (C) only

(A), (B) and (D) only

(A), (B) and (C) only

(B), (C) and (D) only

(A), (C) and (D) only

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

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39

The amount of Provision for Debtors is transferred to the Credit Side of the Realisation Account.

The amount of Provision for Debtors is transferred to the Debit Side of the Realisation Account.

The amount of Provision for Debtors is transferred to the Credit Side of the Bank Account.

The amount of Provision for Debtors is transferred to the Credit Side of the Capital Account.

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(D), (C), (B), (A)

Partner Capital A/c Dr.

To Realisation A/c

Partner Capital A/c Dr.

To Assets A/c

Bank A/c Dr.

To Realisation A/c

Bank A/c Dr.

To Assets A/c

(A) and (D) only

(A), (B) and (D) only

(D) only

(A), (B), (C) and (D)

Change in existing profit sharing ratio

Admission of a new partner

Death of a partner

Expansion of the business

A partner took an un-recorded asset, it will be shown the credit side of realization account.

A partner takes an un-recorded asset, it will be shown the credit side of partners capital account

A partner took a recorded liability, it will be shown the credit side of realization account

A partner took an un-recorded liability, it will be shown the credit side of realization account.

Realisation A/c Dr. 63,600

To Bhuvan's Capital A/c 63,600

Bank Loan A/c Dr. 63,600

To Bank A/c 63,600

Realisation A/c Dr. 60,000

To Bhuvan's Capital A/c 60,000

Realisation A/c Dr. 60,000

Interest on Bank Loan A/c Dr. 3,600

To Bhuvan's Capital A/c 63,600

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(A), (C) and (D) only

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

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Cash Account

Realisation account

Bank account

Partners' capital account

Never paid

Fully paid

Partly paid

Half paid

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(B), (A), (C), (D)

(C), (D), (A), (B)

(B), (A), (D), (C)

(C), (B), (D), (A)

his private debt, the firm's debts

the firm's debts, his private debt

his private debt, other partners' private debts

the firm's debts, other partners' private debt.

Rs.8910.

Rs.9,200.

Rs.9,000.

Rs.8,000.

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

Loan Accounts

Capital Accounts

Bank Account

Realisation Account

Treatment of losses

Application of Assets

Provision of Indian Partnership Act 1932

Private Debts and Firm's Debts

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

Partners' Capital Account

Credit of Realisation Account

Debit of Bank Account

Debit of Realisation Account

Realisation Account

Partner's Capital Account

Partner's Loan Account

Bank Account

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Realization account is debited.

Realization account is credited.

Creditors' account is debited.

Not recorded anywhere.

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) and (B) only

(B) and (D) only

(A), (B), (C) and (D)

(C) and (D) only

Bank Account

Realisation Account

Partner's Current Account

Loan from Partner Account

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Not shown anywhere

Dissolution by Death

Dissolution by Agreement

Dissolution by Court

Voluntarily by one partner

When the business of the firm becomes illegal

On the death of a partner

When a partner becomes insane

On the expiry of the term of the partnership

Realization Account

Partners' Capital Accounts

Bank Account

Partner Loan Account

Realisation Account

Drawings Account

Bank Account

Loan Account.

Bank Account

Realisation Account

Partner's Capital Account

Partner's Current Account

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Never paid

Fully paid

Partly paid

Paid according to Capital contribution

(A), (B) and (D) only

(A), (B) and (C) only

(B), (C) and (D) only

(A), (C) and (D) only

Realization Account

Bank Account

Cash Account

Partner's capital Account

Realisation Account

Bank Account

Revaluation Account

Realisation expense Account

(A), (B) and (D) only

(A), (B) and (C) only

(B), (C) and (D) only

(B) and (D) only

(B), (C), (A), (D)

(A), (B), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Debit of Revaluation Account

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Debit/Capital

Credit/Capital

Realization/Capital

Debit/Realization

Realisation Account

Partner's Capital Account

Partner's Loan Account

Revaluation Account

Realization Account

Bank Account

Cash Account

Partner's capital Account

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Loan Account

Bank Account

Drawings Account

Realisation Account

(B), (C), (A), (D)

(A), (B), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Bank Loan Mortgage

Loan to other parties

Outstanding expenses

Provision for doubtful debts

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

Is transferred into Realisation Account and paid out.

Is transferred into Realisation Account but not paid out.

Is not transferred into Realisation Account.

Is not transferred into Realisation Account and also not paid out.

Debit Side of Realisation Account, Credit side of Realisation Account

Credit Side of Realisation Account, Debit side of Realisation Account

Credit Side of Realisation Account, Debit side of Capital Account

Credit Side of Realisation Account, Credit side of Current Account

Debit/Capital

Credit/Capital

Realisation/Capital

Debit/Realization

Admission of a partner

With the consent of all the partners.

Death of a partner

Expiry of the period of partnership

On the death of a partner

On the expiry of term of partnership

When business cannot be carried on except at a loss.

When a partner become insolvent.

(A) and (D) only

(A), (B) and (D) only

(D) only

(A), (B), (C) and (D)

Section 32

Section 33

Section 38

Section 39

Rs 25,000

Rs 20,000

Rs 22,500

Rs 45,000

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Rs.50,000.

Rs.45,000.

Rs.30,000

Rs.40,000.

Capital of partners

Profits

Partners individual contribution in their profit sharing ratio

Borrowings

(A) - (IV), (B) - (III), (C) - (II), (D) - (I)

(A) - (IV), (B) - (II), (C) - (III), (D) - (I)

(A) - (III), (B) - (II), (C) - (IV), (D) - (I)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Bank Account Debit & Unrecorded Asset Account Credit.

Realisation Account Debit & Bank Account Credit.

Unrecorded Asset Account Debit & Bank Account Credit.

Bank Account Debit & Realization Account Credit.

Debit of Realisation Account

Credit of Realisation Account

Debit of Bank Account

Credit of Capital account.

Rs.8,910.

Rs.9,200.

Rs.9,000.

Rs.8,940.

(A), (B), (C), (D), (E)

(D), (C), (B), (A), (E)

(A), (D), (B), (E), (C)

(D), (B), (C), (A), (E)

(A) and (D) only

(B) and (D) only

(A), (B), (C) and (D)

(C) and (D) only

(A), (C) and (D) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Paid out separately

Transferred into Realization Account

Transferred into Partners' Capital Account

Transferred into Partners' Current Account

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

When all partners dies.

When the business of the firm is less profitable.

If tenure of Partnership mentioned in Partnership Deed is extended.

When a partner becomes insane.

Debit of Realisation Account

Debit of Bank Account

Credit of realisation Acount

Credit of Bank Account

Death of a partner

With the consent of all partners

When a partner becomes insane

When the adjudication of a partner as an insolvent

Loan

Capital

Current

Realisation

Cash Account

Bank Account

Realisation Account

Partner's Capital Account

(A) - (IV), (B) - (I), (C) - (III), (D) - (II)

(A) - (II), (B) - (I), (C) - (IV), (D) - (III)

(A) - (IV), (B) - (II), (C) - (I), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Realisation Account in Equal Ratio

Realisation Account in Profit Sharing Ratio

Capital Accounts in Equal Ratio

Capital Accounts in Profit Sharing Ratio

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

(A), (C), (B), (D)

(B), (C), (D), (A)

(B), (A), (D), (C)

(C), (B), (D), (A)

(B) and (D) only

(A), (B) and (D) only

(A) and (D) only

(B), (C) and (D) only

On the death of a partner

When a partner becomes insane.

When business of the firm becomes illegal.

When the business of the firm cannot be carried on except at a loss,

Capital

Realisation

Current

Bank

Debit Side of Realisation Account, Credit side of Realisation Account

Credit Side of Realisation Account, Debit side of Realisation Account

Credit Side of Realisation Account, Debit side of Capital Account

Credit Side of Realisation Account, Credit side of Current Account

(C), (B), (A), (D)

(B), (A), (D), (C)

(B), (A), (C), (D)

(C), (B), (D), (A)

Bank Loan Mortgage

Bills Payable

Furniture and Fittings

Partners' Loan

(A), (B) and (D) only

(B), (C) and (D) only

(A), (B) and (C) only

(B), (C) and (D) only

(A), (B) and (D) only

(A), (B) and (C) only

(B) and (D) only

(A) and (C) only

Capital Accounts in Profit Sharing Ratio

Realisation Account in Profit Sharing Ratio

Capital Accounts in Equal Ratio

Realisation Account in Equal Ratio

(A) - (II), (B) - (III), (C) - (I), (D) - (IV)

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

Realisation Account

Capital Account

Revaluation Account

Current Account

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D) only

(B), (C) and (D) only

Cash Account

Bank Account

Realisation Account