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What is the treatment to be made for assets taken over by a partner at the time of the dissolution of a firm?
What is the treatment to be made for assets taken over by a partner at the time of the dissolution of a firm?
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Solution
The correct option is A credited to Realisation A/c
The treatment to be made for assets taken over by a partner at the time of the dissolution of a firm-
Partner's Capital A/c Dr.
To Realisation A/c
credited to Realisation A/c
The treatment to be made for assets taken over by a partner at the time of the dissolution of a firm-
Partner's Capital A/c Dr.
To Realisation A/c
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