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Question
Matching Question:
On dissolution of a partnership firm:
| (i) | Creditor of ₹ 80,000 took over the stock of ₹ 70,000 in full settlement of his debt | (a) | Cash A/c Dr. 10,000 To Realisation A/c 10,000 |
| (ii) | Creditor of ₹ 80,000 took over the stock of ₹ 70,000 | (b) | No entry |
| (iii) | Creditor of ₹ 80,000 took over the stock of ₹ 90,000 and paid the balance to the firm | (c) | Realisation A/c Dr. 10,000 To Cash A/c 10,000 |
Match the Columns
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Solution
| (i) | Creditor of ₹ 80,000 took over the stock of ₹ 70,000 in full settlement of his debt | (b) | No entry |
| (ii) | Creditor of ₹ 80,000 took over the stock of ₹ 70,000 | (c) | Realisation A/c Dr. 10,000 To Cash A/c 10,000 |
| (iii) | Creditor of ₹ 80,000 took over the stock of ₹ 90,000 and paid the balance to the firm | (a) | Cash A/c Dr. 10,000 To Realisation A/c 10,000 |
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