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Question
Matching Question:
At the time of dissolution of a partnership firm:
| (i) | Unrecorded liability taken by partner | (a) | No entry |
| (ii) | Unrecorded liability paid in cash | (b) | Realisation A/c Dr. To Cash A/c |
| (iii) | Unrecorded liability settled by giving an unrecorded asset | (c) | Realisation A/c Dr. To Partner's Capital A/с |
Match the Columns
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Solution
| (i) | Unrecorded liability taken by partner | (c) | Realisation A/c Dr. To Partner's Capital A/с |
| (ii) | Unrecorded liability paid in cash | (b) | Realisation A/c Dr. To Cash A/c |
| (iii) | Unrecorded liability settled by giving an unrecorded asset | (a) | No entry |
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