Unrecorded assets when taken over by a partner on dissolution are shown in ........

Accountancy (CUET) Dissolution of Partnership Firm

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Unrecorded assets, when taken over by a partner on dissolution, are shown in:

This questions was previously asked in

CUET ACCOUNTANCY Previous Year Paper (2023)

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Debit of Realisation Account

Debit of Bank Account

Credit of Realisation Account

Credit of Bank Account

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Explanation:

Solution with Explanation:

When a firm is dissolved, unrecorded assets are assets that were not included in the books of accounts but still exist. If a partner takes over such assets, the accounting treatment is as follows:

Unrecorded assets are credited to the Realisation Account because they are being realized (disposed of).
If a partner takes over the asset, the partner’s capital account is debited, and the Realisation Account is credited.

Thus, the correct answer is:
(c) Credit of Realisation Account.