Practicing Success
On dissolution of a firm, a partner took over ₹17,000 investments for ₹14,000. Which one of the following account will be debited/credited with how much amount? |
Partner's Capital Account Credit with ₹17,000 Realisation Account Credit with ₹17,000 Partner's Capital Account Credit with ₹17,000 Partner's Capital Account Debit with ₹14,000 |
Partner's Capital Account Debit with ₹14,000 |
For an asset taken over by a partner, journal entry will be: |