Question : Which of the following is transferred to Realisation Account:
Option 1: Bank Account
Option 2: Balance of Profit & Loss Account
Option 3: cash received from debtors
Option 4: capital account
Correct Answer: cash received from debtors
Solution : Answer = cash received from debtors When assets are realised through realisation and liabilities paid, the cash realised and cash paid will be debited/credited to the realisation account. Bank a/c.....Dr To realisation a/c(cash collected from debtors) Hence, the correct option is 3.
Question : Which of the following is not transferred to Realisation Account:
Question : On dissolution, the final balance of capital accounts are transferred to
Question : At the time of dissolution partner's loan (cr balance ) account is transferred to:
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