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Question
Matching Question:
On dissolution of a partnership firm:
| (i) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 | (a) | Workmen Compensation Reserve A/c Dr. 40,000 To Realisation A/c 24,000 To Partner's Capital A/cs 16,000 |
| (ii) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 and liability arise at ₹ 24,000 | (b) |
(i) Workmen Compensation Reserve A/c Dr. 40,000 (ii) Realisation A/c Dr. 50,000 |
| (iii) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 and liability arise at ₹ 50,000 | (c) | Realisation A/c Dr. 40,000 To Bank A/c 40,000 |
| (iv) | Workmen Compensation Reserve does not appear in the Balance Sheet and liability arise at ₹ 40,000 | (d) | Workmen Compensation Reserve A/c Dr. 40,000 To Partner's Capital A/cs 40,000 |
Match the Columns
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Solution
| (i) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 | (d) | Workmen Compensation Reserve A/c Dr. 40,000 To Partner's Capital A/cs 40,000 |
| (ii) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 and liability arise at ₹ 24,000 | (a) | Workmen Compensation Reserve A/c Dr. 40,000 To Realisation A/c 24,000 To Partner's Capital A/cs 16,000 |
| (iii) | Workmen Compensation Reserve appears in the Balance Sheet at ₹ 40,000 and liability arise at ₹ 50,000 | (b) |
(i) Workmen Compensation Reserve A/c Dr. 40,000 (ii) Realisation A/c Dr. 50,000 |
| (iv) | Workmen Compensation Reserve does not appear in the Balance Sheet and liability arise at ₹ 40,000 | (c) | Realisation A/c Dr. 40,000 To Bank A/c 40,000 |
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