CUET Accountancy 2023 11 June Shift 3 PYQs - Free Mock Test (No Login)

Realisation A/c is debited with __________ on the dissolution of firm.

Read the following facts about shares and debentures.(A) Both shares and debentures can be issued by a company for raising long term funds.(B) Both shares and debentures can be issued for consideration other than cash.(C) Both shares and debentures can be issued at premium(D) Debentures can be converted into shares and shares can be converted into debentures(E) Dividend is paid on shares and debentures bothChoose the correct answer from the options given below:

Select the way by which provisions appearing in the Balance Sheet of a partnership firm are closed at the time of firm's dissolution.

Mukund's Loan of Rs. $50,000$ to the firm, was settled at Rs. $55,000$ at the time of firm's dissolution, where Mukund was one of the partner. What entry will be passed?

Match List - I with List - II.
|l - I & - II \\ (A) Share Capital & (I) 10% debenture \\ (B) Reserve and Surplus & (II) Interest accrued and due \\ (C) Non-current Liability & (III) Share forfeited account \\ (D) Current Liability & (IV) Capital Redemption Reserve
Choose the correct answer from the options given below: