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CUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3)

Realisation Journal Entries Questions

1 Realisation Journal Entries questions from CUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3) with detailed answers and explanations. Free previous year questions and MCQs.

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Realisation Journal Entries — CUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3)(1–1 of 1)

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Q1mediummcqAccountancyCUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3)2026
Read the following case study carefully and answer the question:G, K, and B were partners running a partnership for the last 10 years, sharing profit and loss in the ratio of . Post-Covid, their firm was affected badly and started incurring losses. On 31st March 2023, they all decided to dissolve the firm due to continuous losses. Their capital balances were , , and respectively. The firm had liabilities of , Cash balance , other Sundry Assets , and P&L A/c constituted the rest. Assets were realised at , and liabilities were paid in full. There was an unrecorded liability of , which was settled at . Realisation expenses amounted to , being paid by G on behalf of the firm. The journal entry for realization expenses in the above case study will be:

CUET UG 2024 Accountancy Question Paper (17-May-2024) (Shift 3) Realisation Journal Entries — FAQ

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