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Liability Settlement

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 AccountancyAt the time of dissolution, a liability of ₹33,000 was settled for ₹31,900. What is the gain on this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, a partnership firm’s liability of ₹24,000 was settled for ₹25,800. What will be its effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert 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 AccountancyA liability of a partnership firm amounting to ₹26,000 is settled for ₹25,200. What is the gain on this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyIf a liability of ₹18,000 is settled for ₹19,000, what will be the effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAfter settling liabilities and realizing assets, in which of the following situations will a loss arise in the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyAt the time of dissolution, a liability had a book value of ₹14,000 and was settled for ₹14,600. What loss did the firm incur?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyOn dissolution of a partnership firm, what does transferring liabilities to the Realisation Account represent?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyAt the time of dissolution, a liability recorded at ₹17,000 is settled for ₹17,600. What will be the result of this transaction?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution of a partnership firm, a liability of ₹22,000 is settled for ₹21,500. What is the gain on this settlement?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution of a partnership firm, what is the primary purpose of preparing the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution, a liability of ₹8,000 is settled for ₹8,500. What will be the effect on the Realisation Account?Class 12Dissolution of a Partnership FirmClosing the BusinessMedium AccountancyAt the time of dissolution of a partnership firm, a liability of ₹6,000 is paid. What type of transaction is this?Class 12Dissolution of a Partnership FirmClosing the BusinessEasy AccountancyDuring the dissolution of the firm, what will be the effect on the cash balance when a liability of ₹5,000 is paid?Class 12Dissolution of a Partnership FirmClosing the BusinessEasy AccountancyIf a liability of ₹7,000 is paid, what will be the effect on cash?Class 12Dissolution of a Partnership FirmClosing the BusinessEasy AccountancyAt the time of dissolution of a partnership firm, a liability of ₹9,000 is paid. What does this represent?Class 12Dissolution of a Partnership FirmClosing the BusinessEasy AccountancyWhat happens to the firm’s liability when the deceased partner’s share is paid to the executor?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareEasy AccountancyWhen the amount due in a partner’s loan account is paid, which account will be debited?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountExpert AccountancyA deceased partner’s executor loan account shows an amount payable of ₹1,80,000. If ₹45,000 has been paid, what will be the remaining liability?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountMedium