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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।

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 AccountancyThe Realisation Account is not prepared for reconstitution; in which situation is it required?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 AccountancyAt the dissolution of a firm, which journal entry is passed to remove external liabilities from the books?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of a partnership firm, in which account are all gains or losses arising from the realisation of assets and settlement of liabilities accumulated?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf a partner personally pays the realisation expenses and does not claim reimbursement from the firm, what will be the effect on the firm's books?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhy are external liabilities paid before partners’ capital is returned when a firm is dissolved?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, an asset with a book value of ₹30,000 was sold for ₹33,000. What is the profit percentage on the asset’s book value?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat does the balance of the Realisation Account represent?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 AccountancyAt the time of dissolution, when an unrecorded asset is taken over by a partner, which account is credited?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat is the status of a firm after its dissolution and completion of the winding-up process?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 AccountancyWhat type of nominal account is the Realisation Account?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 AccountancyOn dissolution, if goodwill is not treated separately, it is disposed of along with what?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a firm, through which account are external liabilities actually paid mainly?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhen a partner takes over a firm’s liability, what is the effect on the Realisation Account?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 AccountancyWhat does the final balance of a partner’s capital account indicate on the dissolution of a firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard