Find out the Journal entry, after various assets and third party liabilities have been transferred to Realisation Account. When a type writer completely written off in the books of accounts was sold for Rs 200 ?
Cash A/C debit as Rs 200 to Realisation A/C 200
Realisation A/C debit as Rs 200 to cash A/C as 200
Realisation A/C debit as 200 to Bank A/C as 200
No entry
If the firm may dissolved by adjudication of any partner as insolvent is the __________ type of dissolution.
Dissolution by court.
Dissolution by notice.
Dissolution by contingencies.
Dissolution by agreement.
When the number of partner exceeds ten in the banking business and twenty in case of other business is ________________ type of dissolution.
Dissolution by Agreement
Compulsory Dissolution
Dissolution by notice
None of these
In which dissolution the partners of the firm may voluntarily agree for the dissolution of the firm at any time ?
Dissolution by agreement
Compulsory dissolution
Dissolution by court
Settlement of dispute among partners are executed
As per the method in deed
Oral settlement
No settlement
None of the above
If investment is appearing at the Asset side of the Balance sheet, it will be transferd to the __________________ side of Realisation A/C.
Debit
Credit
Both A & B
In which situation partners of the firm may voluntarily dissolution of firm at any time ?
When the number of partners exceeds ten in banking business and twenty in case of other business. The firm may leads to _____________________.
Absence of the rate of interest on capital and drawing.
10% is allowed
50% is allowed
6% is allowed
None of the above.
Joint Life policy is transferred to the debit side of _________________ Account.
Realisation A/C
Partners loans A/C
Drawings A/C
