Question : A and B Were partner in a firm which was dissolved. No goodwill appeared in the books. What will be the jounral entry if goodwill realised Rs.80,000 ?

Option 1: Cash A/c   Dr.   80000

        To Realisation A/c  80000

Option 2: Realisation A/c    Dr.    80000

                To Cash A/c            80000

Option 3: No Entry Will be Passed

Option 4: None of the Above

Question : What would be closing entry for goodwill given in balance sheet at the time of dissolution of a partnership firm?

Option 1: Goodwill Alc
    To Partner's Capital Alc

Option 2: Goodwill Alc Dr.
       To Realisation A/C

Option 3: Realisation Alc Dr.
      To Goodwill Alc

Option 4: Partner's Capital Alc Dr.
        To Goodwill A/C

Question : Realisation Expenses, 15,000 were paid by the firm on behalf of a partner. The Journal Entry passed will be:

Option 1: Realisation A/c Dr. 15,000
To Cash/Bank A/c 15,000

Option 2: Realiastion A/c Dr. 15,000
To Concerned Partner’s Capital A/c 15,000

Option 3: Concerned Partner’s Capital A/c Dr. 15,000
To Cash/Bank A/c 15,000

Option 4: Cash/Bank A/c Dr. 15,000
To Realisation A/c 15,000

Question : Realisation expenses of Rs 10,000 were paid by the firm. Choose the correct journal entry.

Option 1: Realisation A/c ...Dr. 10,000
To Cash/BankA/c 10,000

Option 2: Realisation A/c ...Dr. 10,000
To Concerned Partner's Capital A/c 10,000

Option 3: Concerned Partner's Capital A/c Dr. 10,000
To Cash/Bank A/c 10,000

Option 4: Cash/BankA/c..Dr. 10,000
To Realisation A/c 10,000

Question : Realisation expenses of Rs 10,000 were paid by the firm. Choose the correct journal entry.

Option 1: Realisation A/c ...Dr. 10,000
To Cash/BankA/c 10,000

Option 2: Realisation A/c ...Dr. 10,000
To Concerned Partner's Capital A/c 10,000

Option 3: Concerned Partner's Capital A/c Dr. 10,000
To Cash/Bank A/c 10,000

Option 4: Cash/BankA/c..Dr. 10,000
To Realisation A/c 10,000

Question : A and B were partners. They decided to dissolve their firm on31st march 2022. Creditors worth Rs.90000, accepted Rs.55000 on dissolution. The jounral entry to record the settelment of creditors will be - 

Option 1: Cash A/c       Dr.   55000

To Realisation    55000

Option 2: Realisation A/c      55000

To Cash A/c         55000

Option 3: Creditors  A/c      55000

To Cash A/c         55000

Option 4: None of the above