On which side of the Realisation Account is the transfer of assets at book value generally recorded?

Correct answer: Debit side

At dissolution, assets recorded in the books, generally excluding cash and bank balances, are transferred to the debit side of the Realisation Account at their book values. Liabilities are transferred to the credit side, so the credit side is the closest but incorrect alternative. Exam tip: remember, “Assets debit, Liabilities credit.”