Muft Shiksha
Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
Class 12AccountancyDissolution of a Partnership FirmClosing the BusinessExpert
0 reads0 ratings0 helpful

On dissolution of a partnership firm, realisation expenses of ₹1,000 were paid through the bank. Which account will be debited for this transaction?

Answer and explanation

Correct answer: वास्तविकीकरण खाता (Realisation Account)

At dissolution, realisation expenses are debited to the Realisation Account because they are incurred for closing the firm and disposing of its assets. Since the payment is made through the bank, the Bank Account is credited by ₹1,000. The entry is: Realisation Account Dr. ₹1,000 To Bank Account ₹1,000. Exam tip: Dissolution-related realisation expenses are generally debited to the Realisation Account.

Related tags

Partnership DissolutionRealisation AccountDissolution ExpensesAccounting EntriesPartnership AccountingClosing The BusinessDissolution Of A Partnership FirmAccountancy
सुधार सुझाएँ / Earn

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

KEEP PRACTISING

10 more MCQs
  1. 1What is the process of permanently closing a partnership firm and ending its existence called?
  2. 2Which account is prepared at the time of dissolution of a firm to determine the profit or loss arising from the settlement of its assets and external liabilities?
  3. 3What is generally done with the assets of a partnership firm at the time of its dissolution?
  4. 4On dissolution of a partnership firm, from what are the external liabilities generally paid?
  5. 5To which account is the realisation profit transferred?
  6. 6To which account is the realisation loss transferred?
  7. 7What happens to the existence of the firm after dissolution?
  8. 8Dissolution expenses are generally debited to which account?
  9. 9At the time of dissolution, if an asset is sold for ₹10,000, what amount will be credited to the Realisation Account?
  10. 10On dissolution of a firm, to whom is the final cash balance paid after settling outside liabilities and other amounts due?
Found an issue? Help improve this questionMy reports and replies

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.