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Class 12 · Accountancy
→At the dissolution of a firm, what effect does a realisation loss have on the partners’ capital accounts in their profit-sharing ratio?
Class 12 · Accountancy
→A debtor was expected to pay ₹12,000, but only ₹11,400 was received. What is the deficiency in recovery?
Class 12 · Accountancy
→On which side of the Realisation Account will ₹3,500 received from the sale of an unrecorded asset be recorded?
Class 12 · Accountancy
→After paying all outside liabilities and realization expenses, the distributable final cash balance of a partnership firm is ₹18,000. If partners A and B have equal claims, how much will A receive?
Class 12 · Accountancy
→For what purpose is the final balance of the Realisation Account used?
Class 12 · Accountancy
→The Realisation Account shows a profit of ₹21,000. If the firm has three partners who share profits equally, what amount will be transferred to each partner’s account?
Class 12 · Accountancy
→At the time of dissolution, how is goodwill already recorded in the firm’s books classified?
Class 12 · Accountancy
→On the dissolution of a partnership firm, a realisation loss of ₹10,000 is shared between the partners in the ratio of 3:2. What amount of loss will be debited to the first partner’s account?
Class 12 · Accountancy
→When all the liabilities of a firm have been paid and the balances of the partners’ capital accounts become zero, what is considered to have occurred?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, a liability of ₹4,400 that had not been recorded in the books earlier was paid. What type of liability is this called?
Class 12 · Accountancy
→To which account is the profit on realisation transferred?
Class 12 · Accountancy
→At the time of dissolution, stock valued at ₹9,000 is transferred to a creditor in full settlement of the liability. What type of settlement is this?
Class 12 · Accountancy
→After paying external liabilities and realization expenses on dissolution, on what basis is the remaining final cash distributed among the partners?
Class 12 · Accountancy
→At the dissolution of a partnership firm, which of the following items is not debited to the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, an asset with a book value of ₹36000 was sold for ₹39000. What profit arose from this transaction?
Class 12 · Accountancy
→Which account is generally prepared first in the accounting process of dissolving a partnership firm?
Class 12 · Accountancy
→At the time of dissolution, what does the discovery of an unrecorded asset generally indicate?
Class 12 · Accountancy
→If a partnership firm incurs a realisation loss of ₹15,000 and the partners share profits and losses in the ratio of 2:3, what amount of the loss will be debited to the second partner’s account?
Class 12 · Accountancy
→In the Realisation Account, on which side is the amount received from the sale of investments recorded?
Class 12 · Accountancy
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