Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:
On dissolution of the firm, amount received from sale of unrecorded asset is credited to :
Options:
Realisation A/c
Partner's Capital A/c
Profit and Loss a/c
None of the above.
Correct Answer:
Realisation A/c
Explanation:
For realisation of any unrecorded assets including goodwill, if any
Bank A/c Dr.
To Realisation A/c