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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।

AccountancyWhen an unrecorded liability is paid, which account is debited?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the debit side of the Realisation Account exceeds its credit side, what will be the result?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIn the dissolution of a firm, in which ratio is the profit arising from the Realisation Account distributed among the partners?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf a partner bears the realisation expenses on behalf of the firm and the firm reimburses the partner, through which account is the reimbursement recorded?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf the realisation expenses are paid by the firm, what will be the effect of the accounting entry?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyThe amount received from the sale of an unrecorded asset is credited to which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution of a partnership firm, a creditor accepted ₹9,600 in full settlement of a claim of ₹10,000. What gain will the firm earn from this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, external liabilities are generally transferred to which account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, to which account are all real assets transferred, except cash and bank balances?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyFor what purpose is the Realisation Account prepared at the time of dissolution of a firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, a creditor of ₹36,000 was fully settled by paying ₹34,000 in cash and giving goods valued at ₹1,000. What is the gain on this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyIf an asset with a book value of ₹75,000 is taken over by a partner for ₹69,000 and the firm bears realisation expenses of ₹1,000, what will be the total effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAn unrecorded asset is sold for ₹14,000, and an unrecorded liability is settled by paying ₹5,000. What will be the net effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyIf the total loss on realisation is ₹54,000 and the three partners share profits and losses in the ratio 5:4:3, how much loss will be borne by the second partner?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyIf an unrecorded liability of ₹4000 existed but no payment was required what is the effect on Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn the dissolution of a partnership firm, assets with a book value of ₹1,10,000 were sold for ₹1,18,000, and realisation expenses amounted to ₹3,000. What will be the net realisation profit?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyWhat does the final balance of the Realisation Account indicate upon the dissolution of a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn the dissolution of a partnership firm, a realisation loss of ₹24,000 is shared between the partners in the ratio 3:1. What amount of loss will be borne by the second partner?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyOn dissolution of the firm, before settling the amount due to creditors, to which account is the Creditors Account transferred?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIf there is a loss in the Realisation Account, how is it treated in the partners’ capital accounts?Class 12Dissolution of a Partnership FirmClosing the BusinessHard