Match List-I with List-II. List-I(Transaction) List-II(Relevant accou…

The correct answer is option 2- (A) - (III), (B) - (I), (C) - (IV), (D) - (II).

List-I (Transaction)	List-II (Relevant account)
(A) Settlement of Partners Loan	(III) Credit Side of Bank A/c
(B) Transfer of liabilities	(I) Credit side of Realization A/c
(C) Transfer of Assets	(IV) Debit Side of Realization A/c
(D) Remuneration payable to partner	(II) Partner's Capital will be credited

 

(A) Settlement of Partners Loan- (III) Credit Side of Bank A/c. 
Partner's loan is not transferred to realisation account but a separate account named partner's loan account is made and this loan is paid separately because it is not outsider liability. Journal entry for this-
Partner's loan A/c  Dr.
         To Bank A/c

(B) Transfer of liabilities-(I) Credit side of Realization A/c.
All external liabilities (except partners' capital or loan accounts) are credited to the realization account. The following Journal Entries is passed for this-
For liabilities- Liabilities A/c Dr. To Realization A/c

(C) Transfer of Assets-  (IV) Debit Side of Realization A/c. 
All tangible and intangible assets (except cash or bank and fictitious assets like debit balance of P&L) are debited to the realization account.
For assets- Realization A/c Dr. To Assets A/c.

(D) Remuneration payable to partner- (II) Partner's Capital will be credited.
Remuneration to a partner  is an appropriation of profit, not a business expense. When the remuneration is payable to a partner, it is credited to the partner's capital (or current) account.