All assets (except cash/bank and fictitious assets) are transferred to the ................... side of ................... Account.
- ADebit/Capital
- BCredit/Capital
- CRealization/Capital
- DDebit/Realization
Solution & Step-by-step Explanation
During the dissolution of a partnership firm, the ledger accounts of all balance sheet assets (excluding cash/bank balances and fictitious balances like accumulated losses) are formally closed by transferring them to the Debit side of the Realisation Account at their respective book values.