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Class 12 · Accountancy
→An unrecorded liability of ₹8,400 was paid. How will this transaction be shown in the Realisation Account?
Class 12 · Accountancy
→A and B share profits in the ratio 4:1. On dissolution of the firm, the Realisation Account shows a loss of ₹35000. What is B’s share of this loss?
Class 12 · Accountancy
→If the debit side of the Realisation Account is ₹2,48,000 and the credit side is ₹2,61,000, what will be the result of this account?
Class 12 · Accountancy
→At the time of dissolution, the machinery had a book value of ₹96,000 and was sold for ₹1,08,000. What profit should be recorded in the Realisation Account?
Class 12 · Accountancy
→If assets with a book value of ₹125000 are sold for ₹119000 and realisation expenses are ₹2000 what is the overall realisation result?
Class 12 · Accountancy
→The Realisation Account is not prepared for reconstitution; in which situation is it required?
Class 12 · Accountancy
→After paying external liabilities and partners’ loans, on what basis is the remaining cash distributed among the partners on dissolution?
Class 12 · Accountancy
→At the dissolution of a firm, which journal entry is passed to remove external liabilities from the books?
Class 12 · Accountancy
→On dissolution of a partnership firm, in which account are all gains or losses arising from the realisation of assets and settlement of liabilities accumulated?
Class 12 · Accountancy
→If a partner personally pays the realisation expenses and does not claim reimbursement from the firm, what will be the effect on the firm's books?
Class 12 · Accountancy
→Why are external liabilities paid before partners’ capital is returned when a firm is dissolved?
Class 12 · Accountancy
→At the time of dissolution, an asset with a book value of ₹30,000 was sold for ₹33,000. What is the profit percentage on the asset’s book value?
Class 12 · Accountancy
→What does the balance of the Realisation Account represent?
Class 12 · Accountancy
→On dissolution of a firm, after paying the external liabilities, whose claim is settled next?
Class 12 · Accountancy
→At the time of dissolution, when an unrecorded asset is taken over by a partner, which account is credited?
Class 12 · Accountancy
→What is the status of a firm after its dissolution and completion of the winding-up process?
Class 12 · Accountancy
→If a profit arises in the Realisation Account on dissolution of the firm, what effect will it have on the partners’ capital accounts?
Class 12 · Accountancy
→What type of nominal account is the Realisation Account?
Class 12 · Accountancy
→On dissolution of a partnership firm, a liability of ₹15,000 is settled by paying ₹14,500. What is the gain from this transaction?
Class 12 · Accountancy
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