Unrecorded assets of Rs.30000 is taken by a partner and also undertakes to pay his wife's loan of rs.10000 in settlement of her loan of rs.40000 at the time of firm's dissolution . How much amount will be transferred to realisation A/c?

Dear Student,
for unrecorded assets, on the credit side of realisation account, 'By Partner's Capital Account 30000'
for wife's loan, on debit of realisation account, 'To Partner's Capital Account 10000' & 'To Cash Account 30000'
Regards

  • -18
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