Which of the following is transferred to Realisation Account at the time of dissolution of partnership firm?
Answer & explanation
Correct answer: option 2
The correct answer is option 2- Amount realized on the sale of assets.
Sale of assets credited to realisation account. Journal entry made for this- Bank A/c Dr. To Realisation A/c.
All other options are transferred to partners capital A/c as they are accumulated profits and losses.