Question:
On dissolution of a firm, bank overdraft is transferred to
On dissolution of a firm, bank overdraft is transferred to
Updated On: Oct 29, 2024
- Bank Account
- Realisation Account
- Partners Capital Account
- Partners Loan Account
Hide Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
On dissolution, all liabilities, including bank overdrafts, are transferred to the Realisation Account for settlement.
Hence, the correct answer is Option 2.
Hence, the correct answer is Option 2.
Was this answer helpful?
0
0
Top Questions on Accounting for Share and Debenture Capital
- Match List-I with List-II.
List-I List-II (A) Income tax Paid (I) Operating Activity (B) Dividend Received (II) Financing Activity (C) Loan Repaid (III) Investing Activity (D) Shares issued against Machinery (IV) Not a Cash flow Activity - CUET (UG) - 2024
- Accountancy
- Accounting for Share and Debenture Capital
- Loss on realization of 84,000 was to be distributed between Sam and Shafiq (partners) in the ratio of 4:3 at the time of the dissolution of the partnership firm. Calculate the amount to be transferred to Shafiq’s capital account.
- CUET (UG) - 2024
- Accountancy
- Accounting for Share and Debenture Capital
- Which of the following are the Profitability Ratios?
(A) Debt Equity Ratio
(B) Return on Investment
(C) Price Earning Ratio
(D) Earning per share- CUET (UG) - 2024
- Accountancy
- Accounting for Share and Debenture Capital
- Arrange the following in the correct order:
(A) Subscribed Capital
(B) Issued Capital
(C) Authorised Capital
(D) Paid-up Capital
(E) Called-up Capital- CUET (UG) - 2024
- Accountancy
- Accounting for Share and Debenture Capital
- Arrange the following steps in the correct sequence of the life of a company:
(A) Commencement of Business
(B) Incorporation
(C) Promotion
(D) Floatation- CUET (UG) - 2024
- Accountancy
- Accounting for Share and Debenture Capital
View More Questions
Questions Asked in CUET exam
- A molecule X associates in a given solvent as per the following equation:
X ⇌ (X)n
For a given concentration of X, the van’t Hoff factor was found to be 0.80 and the
fraction of associated molecules was 0.3. The correct value of ‘n’ is:- CUET (UG) - 2024
- Solutions
- Who devised the concept of Intelligence Quotient (IQ)?
- CUET (UG) - 2024
- Psychological attributes
- Two pipes A and B can fill a tank in 32 minutes and 48 minutes respectively. If both the pipes are opened simultaneously, after how much time B should be turned off so that the tank is full in 20 minutes?
- CUET (UG) - 2024
- Time and Work
- If \(A = \begin{bmatrix} 3 & 2 \\ -1 & 1 \end{bmatrix} \quad \text{and} \quad B = \begin{bmatrix} -1 & 0 \\ 2 & 5 \\ 3 & 4 \end{bmatrix},\)then \((BA)^T\) is equal to:
- CUET (UG) - 2024
- Matrices
- The spin-only magnetic moment of Hexacyanomanganate(II) ion is.........BM
- CUET (UG) - 2024
- Magnetic moment
View More Questions