Question

What is the treatment to be made for assets taken over by a partner at the time of the dissolution of a firm?

• A. credited to Realisation A/c
• B. debited to Realisation A/c
• C. Realisation A/c should neither be debited nor credited.
• D. None of these

Answer 1

The correct option is A

credited to Realisation A/c

The treatment to be made for assets taken over by a partner at the time of the dissolution of a firm-
Partner's Capital A/c Dr.
To Realisation A/c