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Class 12 · Accountancy · Hard
→On dissolution of a firm, if an asset is sold partly for cash and partly for non-cash consideration, what should be recorded on the credit side of the Realisation Account?
Class 12 · Accountancy · Hard
→At the time of dissolution, a liability is settled for an amount lower than its book value. What effect will this have on the Realisation Account?
Class 12 · Accountancy · Hard
→At the time of dissolution, if only part of an external liability is paid and the remaining amount is not waived, what happens to the unpaid balance?
Class 12 · Accountancy · Hard
→When a partner brings cash to meet the firm’s liabilities or loss at the time of dissolution, where is this transaction recorded?
Class 12 · Accountancy · Hard
→On dissolution of a partnership firm, if the total credit side (receipts) and total debit side (payments) of the Realisation Account are equal, what will be the result of the account?
Class 12 · Accountancy · Hard
→On dissolution of a partnership firm, in which account is the amount received from the sale of an unrecorded asset credited?
Class 12 · Accountancy · Hard
→At the time of dissolution, what is the main purpose of recording the amount received from the disposal of non-cash assets in the Realisation Account?
Class 12 · Accountancy · Hard
→At the time of dissolution, if a partner takes over a firm’s liability, in which account and in what manner is it recorded?
Class 12 · Accountancy · Hard
→What is the effect of omitting a transaction from the Realisation Account?
Class 12 · Accountancy · Hard
→On dissolution of a partnership firm, cash remains after paying external liabilities, partners’ loans and realisation expenses. On what basis is this amount generally distributed?
Class 12 · Accountancy · Hard
→If the value of an asset taken over by a partner is recorded incorrectly in the Realisation Account, what will be affected?
Class 12 · Accountancy · Hard
→At the time of dissolution, a partner takes over an unrecorded asset. If the partner’s Capital Account is credited instead of debited, what type of error is this?
Class 12 · Accountancy · Hard
→In the Realisation Account, if one asset is sold above its book value and another asset is sold below its book value, what is determined?
Class 12 · Accountancy · Expert
→At the time of dissolution, if an unrecorded asset is taken over by a partner at an agreed value, which journal entry is correct?
Class 12 · Accountancy · Expert
→At the time of dissolution, if a debtor becomes a bad debt and no amount is recovered from it, what will be the effect on the Realisation Account?
Class 12 · Accountancy · Expert
→At the time of dissolution of a firm, if an asset is taken over by a creditor at an agreed value, what is the accounting treatment?
Class 12 · Accountancy · Expert
→At the time of dissolution, on which side of the Realisation Account are the realisation expenses borne by the firm recorded?
Class 12 · Accountancy · Expert
→When a partner pays a firm’s liability from personal funds, what effect does the related entry in the Realisation Account have?
Class 12 · Accountancy · Expert
→At the time of dissolution, if the sale consideration of an asset has not yet been received, how is it treated in the Realisation Account?
Class 12 · Accountancy · Expert
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