What journal entry will be passed for settlement of loan from a partner of Rs. 50,000 by paying Rs. 45,000 at the time of dissolution of a firm :-
Held on 4 Jun 2025 · Verified 13 Jul 2026.
Loan from Partner A/c Dr. 50,000
To Bank A/c 45,000
To Realisation A/c 5,000
Loan from Partner A/c Dr. 50,000
To Bank A/c 50,000
Realisation A/c Dr. 50,000
To Bank A/c 50,000
Loan from Partner A/c Dr. 45,000
To Bank A/c -45,000
Sign in to track your attempts and accuracy.
Sign in to keep a private note on this question. Nothing you write is ever public.
An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.