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Class 12 · Accountancy
→On the dissolution of a partnership firm, a loss of ₹50,000 is to be borne by the partners in their profit-sharing ratio of 2:3:5. What amount of loss will be debited to the second partner’s account?
Class 12 · Accountancy
→When a profit arises in the Realisation Account, on which side is the balancing figure shown?
Class 12 · Accountancy
→The creditors of a firm were due ₹26,000. They were settled in full by paying ₹24,500 in cash and transferring goods worth ₹500. What gain did the firm earn on this settlement?
Class 12 · Accountancy
→The book value of debtors was ₹68,000, and ₹64,000 was realised on their settlement. What is the loss on this transaction?
Class 12 · Accountancy
→A partnership firm’s profit of ₹56,000 is to be distributed among the partners in the ratio 4:3:1. What will be the third partner’s share?
Class 12 · Accountancy
→At the time of dissolution, a partner took over an asset valued at ₹32,000 and a liability of ₹7,000. What will be the net effect on the partner’s capital account?
Class 12 · Accountancy
→On the dissolution of a partnership firm, a realisation profit of ₹30,000 is earned. If the partners share profits in the ratio 3:2:1, what amount will be transferred to the first partner’s capital account?
Class 12 · Accountancy
→At the time of dissolution, an asset with a book value of ₹85,000 was sold for ₹79,000, and ₹2,000 was incurred as selling expense. What is the total loss on realization of the asset?
Class 12 · Accountancy
→On dissolution of a partnership firm, whose claim is settled first from the available amount according to the prescribed order of settlement?
Class 12 · Accountancy
→At 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 12 · Accountancy
→An unrecorded asset is sold for ₹12,500. On which side of the Realisation Account will this transaction be recorded?
Class 12 · Accountancy
→A and B share profits in the ratio 8:2. If the firm earns a profit of ₹25000, what will be B’s share at the time of dissolution?
Class 12 · Accountancy
→To which account is the final profit of the Realisation Account transferred?
Class 12 · Accountancy
→On dissolution of a partnership firm, creditors amounted to ₹39,000 and were settled in full for ₹36,000. What is the gain arising from this settlement?
Class 12 · Accountancy
→If the firm itself pays realisation expenses of ₹6,500, by what amount will the Realisation Account be affected?
Class 12 · Accountancy
→At the time of dissolution of a firm, which of the following is generally not transferred to the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, a partner took over an asset having a book value of ₹62,000 for ₹70,000. What is the profit arising from this transaction?
Class 12 · Accountancy
→In which situation will a realisation loss not arise on the dissolution of a partnership firm?
Class 12 · Accountancy
→On dissolution of a partnership firm, a realisation profit of ₹48,000 is to be distributed among the partners in the profit-sharing ratio 5:4:3. What will be the third partner’s share?
Class 12 · Accountancy
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