Realization account Dr. To partner’s capital a/c; this entry is recorded when

Related MCQs

• 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 Dr. To asset a/c, this entry is written
• Realization account is a ---------- account
• Loss of realization is borne by the partners in their ------ ratio
• When an unrecorded asset is taken over by one of the partners, his capital account is ----------------
• On dissolution, all assets excepting cash are transferred to the ---------- side of realization account
• On dissolution, all assets except cash are transferred to ----------- of realization account
• If a partner takes over some assets for value on dissolution, realization account should be -----------
• Realization account is closed by transfer of profit/loss to
• When a firm is dissolved, project or loss on realization is shared by the partner’s in their ------------- ratio