Amount advanced by partner over and above the capital is paid

Related MCQs

• When a liability is assumed by a partner his capital account is ----------
• Realization account Dr. To partner’s capital a/c; this entry is recorded when
• If a partner takes over some assets for value on dissolution, realization account should be -----------
• The amount of insurance ………….. to be paid at regular intervals
• When a firm is dissolved, project or loss on realization is shared by the partner’s in their ------------- ratio
• When an unrecorded asset is taken over by one of the partners, his capital account is ----------------
• On dissolution of firm creditors are paid --------
• Firm’s debts are paid first out of ----------- assets
• On dissolution of firm -------- are paid first
• On dissolution, partners loan, if any, will be paid ---------