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Class 12 · Accountancy
→At the time of dissolution of a firm, who generally bears the realisation expenses?
Class 12 · Accountancy
→The book value of debtors was ₹70,000, but ₹65,000 was realised from them. What is the result of this realisation?
Class 12 · Accountancy
→On dissolution of the firm, when stock is transferred to the Realisation Account at its book value, on which side is it recorded?
Class 12 · Accountancy
→At 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 12 · Accountancy
→On dissolution of the firm, a loss of ₹24,000 is incurred. If the partners’ loss-sharing ratio is 1:1:2, what will be the third partner’s share of the loss?
Class 12 · Accountancy
→At the closing of the firm, the distributable total profit is ₹36,000 and the three partners share profits in the ratio 4:2:2. How much profit will the first partner receive?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, an unrecorded liability of ₹5,000 is paid. Which account will be debited for this transaction?
Class 12 · Accountancy
→At the time of dissolution, the book value of a partnership firm’s machinery was ₹90,000. If it was sold for ₹95,000, what profit should be recorded in the Realisation Account?
Class 12 · Accountancy
→A and B share a firm's profit in the ratio 3:2. If the total profit is ₹25,000, what share of the profit will B receive at the time of dissolution?
Class 12 · Accountancy
→At the time of dissolution, the book value of the firm’s creditors was ₹45,000, but ₹47,000 was paid for their full settlement. What effect will this excess payment have on the firm?
Class 12 · Accountancy
→The book value of a firm's debtors was ₹60000, but only ₹54000 was realised from them at the time of dissolution. What is the loss on debtors?
Class 12 · Accountancy
→At the time of dissolution, a partner personally paid ₹7,000 of realisation expenses that were to be borne by the firm. What journal entry should be passed?
Class 12 · Accountancy
→If an unrecorded asset is realised for ₹18,000 and has no book value, how will it be treated in the accounts?
Class 12 · Accountancy
→If a machine is sold for ₹42,000 against its book value of ₹50,000 and an expense of ₹2,000 is incurred on its sale, what will be the net effect on the Realisation Account?
Class 12 · Accountancy
→What is the result when the total of the credit side of the Realisation Account exceeds the total of its debit side?
Class 12 · Accountancy
→At the time of dissolution, the firm earned a profit of ₹24,000. If the partners share profits in the ratio 3:2:1, how much of this profit will be received by the partner with the largest share?
Class 12 · Accountancy
→On dissolution of the firm, partner A paid an unrecorded liability of ₹5,000 from personal funds. Which is the correct accounting entry?
Class 12 · Accountancy
→An unrecorded asset was realised for ₹12,000. If the asset had a book value of zero, what will be its accounting effect at the time of dissolution?
Class 12 · Accountancy
→In the Realisation Account, old furniture was sold for ₹15,000, resulting in a loss of ₹2,000. If realisation expenses amounted to ₹3,000, what will be the net effect on the Realisation Account?
Class 12 · Accountancy
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