Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is: (a) Unrecorded liability A/c Dr XXX To Revaluation A/c XXX (b) Unrecorded liability A/c Dr XXX To Cash A/c XXX (c) Revaluation A/c Dr XXX To Cash XXX (d) Liability A/c Dr XXX To Revaluation A/c XXX

When an unrecorded liability is paid at the time of admission of a partner, it leads to a decrease in the firm's assets (cash) and is treated as a loss on revaluation. Therefore, Revaluation A/c is debited, and Cash/Bank A/c is credited.

Unrecorded liability A/c Dr XXXTo Revaluation A/c XXX

Unrecorded liability A/c Dr XXXTo Cash A/c XXX

Revaluation A/c Dr XXXTo Cash XXX

Liability A/c Dr XXXTo Revaluation A/c XXX

What is the correct answer for CUET UG Accountancy Q37?

The correct answer is C. When an unrecorded liability is paid at the time of admission of a partner, it leads to a decrease in the firm's assets (cash) and is treated as a loss on revaluation. Therefore, Revaluation A/c is debited, and Cash/Bank A/c is credited.

Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is: (a) Unrecorded liability A/c Dr XXX To Revaluation A/c XXX (b) Unrecorded liability A/c Dr XXX To…

The correct answer is C. When an unrecorded liability is paid at the time of admission of a partner, it leads to a decrease in the firm's assets (cash) and is treated as a loss on revaluation. Therefore, Revaluation A/c is debited, and Cash/Bank A/c is credited.

What are the options for this CUET UG Accountancy question?

A. Unrecorded liability A/c Dr XXXTo Revaluation A/c XXX · B. Unrecorded liability A/c Dr XXXTo Cash A/c XXX · C. Revaluation A/c Dr XXXTo Cash XXX · D. Liability A/c Dr XXXTo Revaluation A/c XXX

CUET UG 2023 Accounta… PYQ · With Answer · Free

CUET UG•Accountancy•MCQ

Q37. The Journal entry for payment of unrecorded liability at the time of admission of partner is:

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