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 : At the time of dissolution of the partnership firm, fictitious assets are transferred to :

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners' Loan Account

Question : At the time of dissolution of the partnership firm, fictitious assets are transferred to :

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners' Loan Account

Question : At the time of dissolution of partnership firm, fictitious assets are transferred to

Option 1: Capital Accounts of Partners

Option 2: Realisation Account

Option 3: Cash Account

Option 4: Partners’ Loan Account

Question : What is the treatment of provisions against assets on dissolution of a firm?

Option 1: Provisions against assets are credited to Realisation A/c.

Option 2: Provisions against assets are credited to revaluation A/c.

Option 3: Provisions against assets are debited to Realisation A/c.

Option 4: Provisions against assets are credited to partner's capital account.