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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, a liability recorded at ₹12,000 was settled for ₹12,000 less than its book value. What is the effect of this transaction on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyOn the dissolution of a firm, to which side of the Realisation Account is goodwill recorded when it appears in the books?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, debtors with a book value of ₹60,000 were realised for ₹45,000. What will be the effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyWhat is the effect of an increase in realisation expenses during the dissolution of a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution of the firm, a machine having a book value of ₹90,000 was sold for ₹1,00,000. What profit arose from this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, a profit of ₹42,000 is to be distributed equally among three partners. What share of the profit will each partner receive?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyWhich of the following is not transferred to the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the dissolution of a firm, creditors appearing in the books at ₹20,000 were settled by paying ₹22,000. What will be the effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, an unrecorded asset of the firm was realised for ₹5,000. What will be the accounting effect?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, the firm incurred a loss of ₹18,000. If the two partners share profits and losses in the ratio of 1:2, how much of the loss will the second partner bear?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyOn dissolution of the firm, to which account is the profit or loss on the Realisation Account transferred?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the dissolution of a partnership firm, machinery is sold for ₹4,000 more than its book value. On which side of the Realisation Account will the sale proceeds from the machinery be recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the dissolution of the firm, the profit to be distributed is ₹28,000 and the partners’ profit-sharing ratio is 2:3:5. What will be the second 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 AccountancyA firm's creditors were owed ₹30,000 and were settled in full for ₹28,000. What is the gain on settlement of the creditors?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution of a firm, who generally bears the realisation expenses?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 AccountancyOn dissolution of the firm, when stock is transferred to the Realisation Account at its book value, on which side is it recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the dissolution of a partnership firm, an unrecorded asset was realised for ₹10,000 and an unrecorded liability was paid at ₹2,000. What will be the net effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert