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mediumMCQCUET Accountancy 2025 27 May Shift 22026Accountancy
1 mark

Which Journal Entry will be recorded for realization of an unrecorded asset at the time of dissolution of a Partnership Firm?

  1. A
    Bank Account Debit & Unrecorded Asset Account Credit.
  2. B
    Realisation Account Debit & Bank Account Credit.
  3. C
    Unrecorded Asset Account Debit & Bank Account Credit.
  4. D
    Bank Account Debit & Realization Account Credit.

Solution & Step-by-step Explanation

During dissolution, all assets are closed by moving them to the Realisation Account. When an unrecorded asset is sold or realizes cash, the money flows in, and the gain is directly captured through the realization pool.The transaction entry is:Bank A/c Dr.To Realisation A/c

Practice this question

Try it yourself before checking the explanation above.

Which Journal Entry will be recorded for realization of an unrecorded asset at the time of dissolution of a Partnership Firm?
A
Bank Account Debit & Unrecorded Asset Account Credit.
B
Realisation Account Debit & Bank Account Credit.
C
Unrecorded Asset Account Debit & Bank Account Credit.
D
Bank Account Debit & Realization Account Credit.

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PartnershipDissolutionJournal Entry

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