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Rohan, Mohan, and Sohan were partners, sharing profits equally. At the time of the dissolution of the partnership firm, Rohan’s loan to the firm will be:
  • a)
    Debited to Rohan’s Capital Account
  • b)
    Debited to Realisation Account
  • c)
    Credited to Realisation Account
  • d)
    Credited to Bank Account
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Rohan, Mohan, and Sohan were partners, sharing profits equally. At the...
When a partner has given a loan to the firm, this loan is treated as a liability of the firm at the time of dissolution. The loan amount is settled by paying it through the Bank Account. Thus, Rohan's loan to the firm will be credited to the Bank Account when the loan is repaid.
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Rohan, Mohan, and Sohan were partners, sharing profits equally. At the time of the dissolution of the partnership firm, Rohan’s loan to the firm will be:a)Debited to Rohan’s Capital Accountb)Debited to Realisation Accountc)Credited to Realisation Accountd)Credited to Bank AccountCorrect answer is option 'D'. Can you explain this answer?
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Rohan, Mohan, and Sohan were partners, sharing profits equally. At the time of the dissolution of the partnership firm, Rohan’s loan to the firm will be:a)Debited to Rohan’s Capital Accountb)Debited to Realisation Accountc)Credited to Realisation Accountd)Credited to Bank AccountCorrect answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Rohan, Mohan, and Sohan were partners, sharing profits equally. At the time of the dissolution of the partnership firm, Rohan’s loan to the firm will be:a)Debited to Rohan’s Capital Accountb)Debited to Realisation Accountc)Credited to Realisation Accountd)Credited to Bank AccountCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rohan, Mohan, and Sohan were partners, sharing profits equally. At the time of the dissolution of the partnership firm, Rohan’s loan to the firm will be:a)Debited to Rohan’s Capital Accountb)Debited to Realisation Accountc)Credited to Realisation Accountd)Credited to Bank AccountCorrect answer is option 'D'. Can you explain this answer?.
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