On dissolution, all assets except cash are transferred to ----------- of realization account

Related MCQs

• On dissolution, all assets excepting cash are transferred to the ---------- side of realization account
• If a partner takes over some assets for value on dissolution, realization account should be -----------
• The account opened to close the various assets and liabilities of the firm on dissolution is called ------------- account
• Realization account is a ---------- account
• The ------ has distinguished the ‘dissolution of partnership’ from ‘dissolution of firm’.
• In the event of dissolution of firm the partners personal assets are first used for payment of -------------- liabilities
• Goodwill appearing in the balance sheet at Rs. 10,000 proved to be valueless, is not to be recorded on the ------------------ side of realization account
• Realization account is closed by transfer of profit/loss to
• Realization account Dr. To partner’s capital a/c; this entry is recorded when
• Realization account Dr. To asset a/c, this entry is written