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Closing The Business

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

AccountancyAt the dissolution of a firm, the Realisation Account has total debits of ₹1,20,000 and total credits of ₹1,28,000. What result will be obtained from this account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat does the credit side of the Realisation Account generally record?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyA and B share profits in the ratio 3:2. On dissolution of the firm, a realisation loss of ₹10000 was incurred. What will be A’s share of this loss?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhen an unrecorded liability is paid, what treatment is made in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, an asset has a book value of ₹70,000 and is sold for ₹78,000. What is the profit on the sale of the asset?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a partnership firm, a partner’s loan is repaid before which of the following?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, liabilities of ₹50,000 are settled for ₹48,000. What effect will this have on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, realisation expenses of ₹3,000 are paid through the bank. What amount will be recorded in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a firm, all non-cash assets are transferred to which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat is the ultimate objective of dissolving a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyWhen the total of the credit side of the Realisation Account exceeds the total of its debit side, what does it generally indicate?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyWhat does it mean if all account balances become zero when the firm is closed?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyIf the realisation profit on dissolution of a partnership firm is ₹16,000 and the partners’ profit-sharing ratio is 3:1, how much of the profit will be credited to the second partner?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution of a partnership firm, which action should be completed before distributing cash to the partners?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution, if an asset has a book value of ₹31,000 and is sold for ₹31,000, what will be the result of its realisation?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the dissolution of a firm, what effect does a realisation loss have on the partners’ capital accounts in their profit-sharing ratio?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyA debtor was expected to pay ₹12,000, but only ₹11,400 was received. What is the deficiency in recovery?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyOn which side of the Realisation Account will ₹3,500 received from the sale of an unrecorded asset be recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAfter paying all outside liabilities and realization expenses, the distributable final cash balance of a partnership firm is ₹18,000. If partners A and B have equal claims, how much will A receive?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyFor what purpose is the final balance of the Realisation Account used?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium