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Class 12 · Accountancy
→Partners A, B and C share profits in the ratio 2:2:1. What will be C’s share in the profit of ₹15,000 to be distributed before the firm is closed?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, an asset had a book value of ₹45,000 and was sold for ₹42,000. What is the result of this disposal?
Class 12 · Accountancy
→On dissolution of a partnership firm, if an unrecorded asset is sold for ₹15,000, what will be the effect in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, in the absence of any specific agreement, in which ratio is the reserve fund distributed among the partners?
Class 12 · Accountancy
→At the dissolution of a firm, the Realisation Account has total debits of ₹1,20,000 and total credits of ₹1,28,000. What result will be obtained from this account?
Class 12 · Accountancy
→What does the credit side of the Realisation Account generally record?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. On dissolution of the firm, a realisation loss of ₹10000 was incurred. What will be A’s share of this loss?
Class 12 · Accountancy
→When an unrecorded liability is paid, what treatment is made in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, an asset has a book value of ₹70,000 and is sold for ₹78,000. What is the profit on the sale of the asset?
Class 12 · Accountancy
→On dissolution of a partnership firm, a partner’s loan is repaid before which of the following?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, liabilities of ₹50,000 are settled for ₹48,000. What effect will this have on the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, realisation expenses of ₹3,000 are paid through the bank. What amount will be recorded in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a firm, all non-cash assets are transferred to which account?
Class 12 · Accountancy
→What is the main purpose of Realisation Account on dissolution of a firm?
Class 12 · Accountancy
→What is the ultimate objective of dissolving a partnership firm?
Class 12 · Accountancy
→When the total of the credit side of the Realisation Account exceeds the total of its debit side, what does it generally indicate?
Class 12 · Accountancy
→What does it mean if all account balances become zero when the firm is closed?
Class 12 · Accountancy
→If the realisation profit on dissolution of a partnership firm is ₹16,000 and the partners’ profit-sharing ratio is 3:1, how much of the profit will be credited to the second partner?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, which action should be completed before distributing cash to the partners?
Class 12 · Accountancy
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