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Class 12 · Accountancy
→During dissolution, what will be the effect of recording the cash received from the sale of assets at an incorrect amount in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, if an asset’s book value is higher than its actual realisable value, what will be the effect on the Realisation Account?
Class 12 · Accountancy
→When an asset not recorded in the books is sold on the dissolution of a firm, how should it be accounted for?
Class 12 · Accountancy
→At the time of dissolution, if a partner takes over assets valued at more than the credit available in his Capital Account, how will the excess value be accounted for?
Class 12 · Accountancy
→On the dissolution of a partnership firm, an unrecorded asset is realised for ₹12,000 and an unrecorded liability is paid for ₹8,000. If both are correctly recorded in the Realisation Account, what will be the net effect on this account?
Class 12 · Accountancy
→If the value of assets is overstated in the books at the time of dissolution and the actual realisation remains unchanged, what will be the effect on the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, what effect will showing an unrecorded asset at zero value have on the profit of the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, if an asset is sold for less than its book value, what will be the effect on the Realisation Account?
Class 12 · Accountancy
→If a contingent liability crystallises and is also paid, but the payment is not recorded in the Realisation Account, what will be the effect on the profit of the Realisation Account?
Class 12 · Accountancy
→On dissolution of the firm, if an unrecorded asset of a certain amount is sold and an unrecorded liability of the same amount is paid, what will be the net effect on the profit or loss of the Realisation Account?
Class 12 · Accountancy
→Other things remaining the same, which of the following events will increase the profit on realisation?
Class 12 · Accountancy
→When, on dissolution of a partnership firm, all assets are sold immediately for cash, what will be the immediate effect?
Class 12 · Accountancy
→On dissolution of a firm, if all assets except cash are realised at their book values, all external liabilities are settled at their book values, and there are no realisation or dissolution expenses, what will be the result in the Realisation Account?
Class 12 · Accountancy
→During the dissolution of a firm, if an asset remains unsold for the time being, what is the appropriate treatment?
Class 12 · Accountancy
→Why is the sale of assets recorded in the Realisation Account at the dissolution of a partnership firm?
Class 12 · Accountancy
→On dissolution of a partnership firm, which item is transferred first to the debit side of the Realisation Account?
Class 12 · Accountancy
→What is the main effect of incorrect valuation of assets or liabilities in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, on selling an asset, on which side of the Realisation Account is the sale proceeds recorded?
Class 12 · Accountancy
→On dissolution of a firm, if an asset is mortgaged and the related mortgage loan is repaid from its sale proceeds, what will be the effect on the net amount available to the partners?
Class 12 · Accountancy
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