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Closing Business

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyAt the time of dissolution, creditors were paid ₹5,000 more than the amount due to them. What does this excess payment represent?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of closing the firm, a profit of ₹21,000 is to be distributed among three partners in the ratio 1:1:1. What will be each partner’s share of profit?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, A paid a firm expense of ₹5,000 personally. What journal entry should be recorded in the firm’s books?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyThe book value of debtors was ₹70,000, but ₹65,000 was realised from them. What is the result of this realisation?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution of a partnership firm, an unrecorded liability of ₹5,000 is paid. Which account will be debited for this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, the book value of the firm’s creditors was ₹45,000, but ₹47,000 was paid for their full settlement. What effect will this excess payment have on the firm?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyWhat is the result when the total of the credit side of the Realisation Account exceeds the total of its debit side?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyA, B and C share profits in the ratio 2:5:3. If the total profit is ₹50000, what will be B’s share?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution of a partnership firm, whose payment has the next priority after external liabilities are paid?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyOn closing the firm, a profit of ₹35,000 was earned. If the two partners’ profit-sharing ratio is 3:7, how much of the profit will be received by the partner with the larger share?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, the total debit of the Realisation Account is ₹1,94,000 and its total credit is ₹1,86,000. What will be the result of the account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, a partnership firm’s liability of ₹24,000 was settled for ₹25,800. What will be its effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAn unrecorded asset is sold for ₹12,500. On which side of the Realisation Account will this transaction be recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyOn dissolution of a partnership firm, creditors amounted to ₹39,000 and were settled in full for ₹36,000. What is the gain arising from this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyIf assets with a book value of ₹125000 are sold for ₹119000 and realisation expenses are ₹2000 what is the overall realisation result?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAfter paying external liabilities and partners’ loans, on what basis is the remaining cash distributed among the partners on dissolution?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a firm, after paying the external liabilities, whose claim is settled next?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf a profit arises in the Realisation Account on dissolution of the firm, what effect will it have on the partners’ capital accounts?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a partnership firm, a liability of ₹15,000 is settled by paying ₹14,500. What is the gain from this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, which of the following items is recorded on the credit side of the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard