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Class 12 · Accountancy
→At the time of dissolution of a firm, outstanding salaries payable to employees are classified under which category?
Class 12 · Accountancy
→At the time of dissolution, a machine has a book value of ₹32,000 and is sold for ₹35,000. What is the profit on this sale?
Class 12 · Accountancy
→At the time of dissolution of a firm, which of the following entries results in crediting the Realisation Account?
Class 12 · Accountancy
→At the dissolution of a firm, if all assets are sold at their book values, liabilities are settled at their book values, and no additional expenses are incurred, what will be the result in the Realisation Account?
Class 12 · Accountancy
→On dissolution the balance of accumulated losses is transferred to which account?
Class 12 · Accountancy
→If the credit side total of Realisation Account exceeds the debit side by ₹2500 what is the result?
Class 12 · Accountancy
→What is the final objective of the dissolution process of a partnership firm?
Class 12 · Accountancy
→If an asset is abandoned without receiving any amount, what will be its effect on the Realisation Account?
Class 12 · Accountancy
→On dissolution of a firm, in which account is the profit or loss arising from the Realisation Account finally adjusted?
Class 12 · Accountancy
→What does the discovery of an unrecorded liability at the time of dissolution indicate?
Class 12 · Accountancy
→On the dissolution of a partnership firm, a realisation loss of ₹18,000 was incurred. If the partners share profits in the ratio 2:1, what amount of the loss will be debited to the first partner’s capital account?
Class 12 · Accountancy
→When is the realisation profit distributed among the partners on the dissolution of a partnership firm?
Class 12 · Accountancy
→What is the main purpose of realising assets into cash at the time of dissolution of a firm?
Class 12 · Accountancy
→When a creditor accepts the firm's stock in settlement of the amount due, which process does this form part of?
Class 12 · Accountancy
→On dissolution of a firm, which accounts are ultimately closed with a zero balance after realising assets and settling liabilities?
Class 12 · Accountancy
→At the time of dissolution, an asset with a book value of ₹20,000 was sold for ₹24,000. What will be the result on realisation?
Class 12 · Accountancy
→On dissolution of a partnership firm, under which category is the balance of a partner’s loan account treated?
Class 12 · Accountancy
→On dissolution of a partnership firm, what does a credit balance in the Realisation Account indicate?
Class 12 · Accountancy
→When cash is deficient on dissolution, what is asking partners for an additional amount called?
Class 12 · Accountancy
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