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Class 12 · Accountancy
→On which side of the Realisation Account is the transfer of assets at book value generally recorded?
Class 12 · Accountancy
→On dissolution of a partnership firm, the final payment to partners is determined on the basis of the balance in which account?
Class 12 · Accountancy
→At the time of dissolution, the firm paid realisation expenses of ₹1,500. Which account will be debited for this transaction?
Class 12 · Accountancy
→What is the main purpose of transferring creditors to the Realisation Account?
Class 12 · Accountancy
→When a partnership firm’s business is completely closed and its accounts are settled, what is this process called?
Class 12 · Accountancy
→In which situation can a profit arise in the Realisation Account?
Class 12 · Accountancy
→On dissolution of a partnership firm, a partner’s loan is repaid before which of the following payments?
Class 12 · Accountancy
→For what primary purpose is the Cash Account prepared at the time of dissolution of a firm?
Class 12 · Accountancy
→At the time of dissolution, a liability of ₹8,000 is settled for ₹8,500. What will be the effect on the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a firm, in which ratio is the realisation loss shared among the partners?
Class 12 · Accountancy
→On dissolution of a firm, to whose accounts and in what ratio is the balance of the General Reserve transferred?
Class 12 · Accountancy
→At the time of dissolution, an unrecorded liability of ₹5,000 is paid. What will be its effect?
Class 12 · Accountancy
→If a partner takes over an asset for personal use at dissolution, at what value is it recorded?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, which account is used to determine the profit or loss arising from the realisation of assets and settlement of liabilities?
Class 12 · Accountancy
→How is goodwill recorded in the books generally treated at the time of dissolution of a firm?
Class 12 · Accountancy
→On dissolution of a partnership firm, a realisation profit of ₹12,000 is earned. If the partners’ profit-sharing ratio is 3:1, how much will be credited to the first partner’s capital account?
Class 12 · Accountancy
→What is done with the investment account on dissolution?
Class 12 · Accountancy
→If machinery is given to a creditor in settlement where is its value recorded?
Class 12 · Accountancy
→On dissolution, repayment of partners’ capital is made on what basis?
Class 12 · Accountancy
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