At the time of dissolution, if an asset is taken over by a partner, what journal will be recorded in the books of the firm :-
1. Partner Capital A/c Dr.
To Realisation A/c
2. Partner Capital A/c Dr.
To Assets A/c
3. Bank A/c Dr.
To Realisation A/c
4. Bank A/c Dr.
To Assets A/c

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Accepted Answer

1. Partner Capital A/c Dr.
To Realisation A/c

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At the time of dissolution, if an asset is taken over by a partner, what journal will be recorded in the books of the firm :- 1. Partner Capital A/c Dr. To Realisation A/c 2. Partner Capital A/c Dr. To Assets A/c 3. Bank A/c Dr. To Realisation A/c 4. Bank A/c Dr. To Assets A/c

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