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    unrecorded liabilities when paid on dissolution of a firm is debited to

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    Question

    Unrecorded Liability, when paid on the dissolution of a firm, is debited to -

    Open in App Solution

    The correct option is C

    Realisation A/c

    Unrecorded Liability, when paid on the dissolution of a firm, is debited to - Realisation A/c

    Paying off the Debts (Dissolution)

    Standard XII Accountancy

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    स्रोत : byjus.com

    Unrecorded liabilities when paid are debited to .

    Click here👆to get an answer to your question ✍️ Unrecorded liabilities when paid are debited to .

    Question

    Unrecorded liabilities when paid are debited to _________ .

    A

    Realistaion Accounts

    B

    Partner's Capital Accounts

    C

    None of the above

    D

    Only option (A)

    Medium Open in App Solution Verified by Toppr

    Correct option is A)

    Unrecorded liabilities are those liabilities that are not shown in the Balance Sheet but they still exist in the business. Although these liabilities are not shown in the books, they still need to the discharged off at the time of dissolution and hence are debited to the Realisation account. 

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    If any unrecorded liability is paid on dissolution of the firm ___________ is debited.

    If any unrecorded liability is paid on dissolution of the firm ___________ is debited.

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    If any unrecorded liability is paid on dissolution of the firm ___________ is debited.

    OPTIONS

    Cash/Bank Account Realization Account

    Partners' Capital Account

    Partners' Loan Account

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    SOLUTION

    If any unrecorded liability is paid on dissolution of the firm, then Realisation account is debited.

    Explanation:

    All the liabilities are paid-off by debiting the Realisation A/c. This is because all the payments are made through the Realisation Account, so that the true profits or losses can be ascertained.

    Concept: Dissolution of Partnership Firm

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    Chapter 6: Dissolution of Partnership Firm - Exercise 6.1 (Objective Questions) [Page 241]

    Q 1. A) 5) Q 1. A) 4) Q 1. A) 6)

    APPEARS IN

    Balbharati Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board

    Chapter 6 Dissolution of Partnership Firm

    Exercise 6.1 (Objective Questions) | Q 1. A) 5) | Page 241

    Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board

    2017-2018 (March) (with solutions)

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