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Question
On dissolution, if Workmen Compensation Reserve is ₹ 50,000 and liability for claim is ₹ 40,000 then ₹ 40,000 will be credited to ______ A/c and ₹ 10,000 will be credited to ______.
Fill in the Blanks
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Solution
On dissolution, if Workmen Compensation Reserve is ₹ 50,000 and liability for claim is ₹ 40,000 then ₹ 40,000 will be credited to Realisation A/c and ₹ 10,000 will be credited to Partner's Capital Accounts.
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