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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।

AccountancyOn dissolution of the firm, assets with a book value of ₹1,00,000 were sold for ₹97,000, and realisation expenses of ₹2,000 were incurred. What will be the overall result in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, the final adjustment in the partners’ capital accounts is made for which item?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the total profit recorded in the Realisation Account is ₹15,000 and the profit-sharing ratio of the first and second partners is 3:1, what share of the profit will the second partner receive?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAn unrecorded asset is sold for ₹12,000. On which side of the Realisation Account will the sale proceeds be recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the Realisation Account shows a loss of ₹9,000 and the three partners share profits equally, how much loss will be transferred to each partner’s account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhen is the bank account generally closed during the dissolution of a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf there is a profit on the Realisation Account, which entry is made in the partners’ capital accounts?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAn asset with a book value of ₹60,000 was sold for ₹63,000, and selling expenses amounted to ₹1,000. What is the net result of this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the dissolution of a firm, when a partner takes over an asset for personal use, which account is credited with the value of that asset?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, a creditor’s amount payable was ₹22,000, but ₹22,500 was paid to the creditor. What effect will this excess payment have on the firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a partnership firm, what does transferring liabilities to the Realisation Account represent?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyA and B share profits in the ratio of 7:3. On dissolution of the firm, a realisation loss of ₹5,000 is incurred. What will be A’s share of this loss?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf realisation expenses amount to ₹2,500, on which side of the Realisation Account will they be recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the dissolution of a firm, in what ratio is the reserve fund generally distributed among the partners’ capital accounts?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, the total book value of the firm’s assets was ₹80,000. If these assets were sold for ₹76,000 and no realisation expenses were incurred, what would be the result in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhy is a partner’s loan paid before returning the partner’s capital when a firm is dissolved?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, an unrecorded liability of ₹6000 is paid in cash. What will be the effect in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the realisation loss is ₹18,000 and the partners’ profit-sharing ratio is 2:2:1, what amount of loss will be borne by the third partner?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAn asset had a book value of ₹40,000 and was sold for ₹47,000. What is the realisation profit on the disposal of the asset?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn the dissolution of a firm, on which side of the Realisation Account are non-cash assets transferred?Class 12Dissolution of a Partnership FirmClosing the BusinessHard