Multiple Choice Questions on On dissolution of a firm an unrecorded furniture of the value of Rs5 000 was taken up by a partner f........... for Commerce 12th Preparation

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Multiple Choice Questions

On dissolution of a firm an unrecorded furniture of the value of Rs5 000 was taken up by a partner f...........

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    On dissolution of a firm, an unrecorded furniture of the value of Rs5,000 was taken up by a partner for Rs4,300. Which Account will be credited and by how much amount? :

    Cash Account by Rs4,300

    Incorrect Answer

    Realisation Account by Rs700

    Incorrect Answer

    Partner’s Capital Account by Rs5,000

    Incorrect Answer

    Realisation Account by Rs4,300

    Correct Answer
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    Explanation:

    Realisation Account by Rs4,300

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