Match List-I with List-IIList-IList-II(A) Payment of loans due to partners(iv) Partner's Loan A/c Dr. To Bank A/c(B) For settlement of partners' accounts, in case their capital account shows a debit balance(iii) Bank A/c Dr. To Partner's Capital A/c(C) For settlement of loan by a firm to a partner(ii) Bank A/c Dr. To loan to partners A/c(D) For settlement of any unrecorded liability(i) Realisation A/c Dr To Bank A/cChoose the correct answer from the options given below:
- A(A) - (IV), (B) - (III), (C) - (II), (D) - (I)
- B(A) - (IV), (B) - (II), (C) - (III), (D) - (I)
- C(A) - (III), (B) - (II), (C) - (IV), (D) - (I)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Analysis of dissolution entries:(A) Payment of loan due to a partner: Settled separately outside Realisation A/c (iv)(B) Settlement of capital debit balance: Partner brings in cash (iii)(C) Firm recovering loan from a partner: Cash received on asset asset settlement (ii)(D) Payment of unrecorded liability: All liabilities are rooted via realization (i)Matching is (A) - (IV), (B) - (III), (C) - (II), (D) - (I).