Across
- 2. On dissolution, if a partner pays the firm's liability, Realisation A/c is __.(debited or credited)
- 5. When realisation expenses are paid by the firm on behalf of the partner which account is debited.
- 6. Credit balance in Realisation A/c.
- 10. When a firm becomes unlawful, this mode of dissolution takes place.
- 12. Which section of Indian Partnership Act deals with settlement of accounts when the firm is dissolved.
Down
- 1. The account prepared to close the books of account of the dissolved firm.
- 3. When an unrecorded asset is taken by partners, it is _ to Realisation account(Fill in the Blank)
- 4. When an unrecorded asset is realised at the time of dissolution of the firm, __ account is is debited to realisation Account.
- 7. ____ balance sheet is used to ascertain sundry assets when other liabilities and partners capitals is given.
- 8. All assets inclusive of cash is transferred to Realisation Account(State right or wrong)
- 9. Debts owed by a partner to any other person
- 10. When a partner is guilty of misconduct, dissolution by __ takes place.
- 11. Which Section of Partnership Act defines Dissolution of Partnership firm.