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Class 12 · Accountancy
→At the time of dissolution of a firm, through which account are external liabilities actually paid mainly?
Class 12 · Accountancy
→When a partner takes over a firm’s liability, what is the effect on the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, which of the following items is recorded on the credit side of the Realisation Account?
Class 12 · Accountancy
→What does the final balance of a partner’s capital account indicate on the dissolution of a firm?
Class 12 · Accountancy
→An unrecorded liability of ₹7,000 is paid. What effect will this transaction have on the Realisation Account?
Class 12 · Accountancy
→What is the main objective of closing (dissolving) a partnership firm?
Class 12 · Accountancy
→At the time of dissolution of a firm, on which side of the Realisation Account are external liabilities transferred?
Class 12 · Accountancy
→When investments are sold at their book value on the dissolution of a firm, what is the effect in the Realisation Account?
Class 12 · Accountancy
→On dissolution of the firm, on which side of the partners’ capital accounts is the realisation loss recorded?
Class 12 · Accountancy
→On dissolution of a partnership firm, if all assets are taken over by the partners in their individual accounts instead of being sold to external buyers, how much cash will be realised from the assets?
Class 12 · Accountancy
→An unrecorded asset is sold for ₹6,000. Which account will be credited for this transaction?
Class 12 · Accountancy
→On dissolution of a firm, the account prepared to record the profit or loss from the realisation of assets and settlement of liabilities is ultimately closed into which account?
Class 12 · Accountancy
→At the time of dissolution, a creditor to whom ₹12,000 was payable accepted a payment of ₹11,800. What gain did the firm earn from this settlement?
Class 12 · Accountancy
→Why is the cash balance not transferred to the Realisation Account at the time of dissolution?
Class 12 · Accountancy
→On dissolution of a firm, in which order is a partner’s loan paid?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, an asset has a book value of ₹80,000 and is sold for ₹90,000. What profit will be recorded in the Realisation Account on the sale of the asset?
Class 12 · Accountancy
→On dissolution of a firm, under which category of liabilities is the bank loan paid first from the realisation proceeds?
Class 12 · Accountancy
→On the dissolution of a partnership firm, in which ratio is the reserve fund generally distributed among the partners?
Class 12 · Accountancy
→On dissolution of a firm, when is the remaining cash finally distributed among the partners?
Class 12 · Accountancy
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