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Class 12 · Accountancy
→After transferring the final balance of Realisation Account to capital accounts what balance should remain in Realisation Account?
Class 12 · Accountancy
→A liability of ₹30000 appears in books. Creditor accepted ₹26000 in final settlement and allowed ₹1000 discount on cash payment. What amount is debited as payment in Realisation Account?
Class 12 · Accountancy
→At dissolution stock is ₹40000. 60 percent stock sold for ₹30000 and remaining taken over by a partner for ₹12500. What total credit appears in Realisation Account?
Class 12 · Accountancy
→If sale proceeds of an asset are directly paid to a creditor then what is the correct approach in Realisation Account?
Class 12 · Accountancy
→Prepaid insurance of ₹8000 existed at dissolution and it expired worthless. What is its treatment in Realisation Account?
Class 12 · Accountancy
→An unrecorded investment was sold for ₹14000 and an unrecorded claim was paid for ₹9000. What is the net effect on realisation result?
Class 12 · Accountancy
→Assets were ₹150000 and realised ₹164000. Liabilities were ₹55000 and paid at ₹59000. What is the result of Realisation Account?
Class 12 · Accountancy
→On dissolution total assets at book value ₹220000 were sold for ₹185000. External liabilities ₹75000 were settled for ₹68000. Realisation expenses are ₹4000. What is the realisation result?
Class 12 · Accountancy
→Through which account is sale proceeds of an asset recorded in Realisation Account when cash is received?
Class 12 · Accountancy
→If a partner takes over creditors of ₹35000 then which entry is correct in Realisation Account?
Class 12 · Accountancy
→A machine was taken over by a partner for ₹45000 and he also accepted related repair liability of ₹5000. What is the credit amount for machine takeover in Realisation Account?
Class 12 · Accountancy
→An asset has book value ₹120000. It is sold for ₹100000 and the firm pays selling expenses ₹3000. What is the net realisation result from this asset?
Class 12 · Accountancy
→Debtors paid ₹29000 after discount of ₹1000 on dissolution. Book value of debtors was ₹32000. How much will be credited through Bank in Realisation Account?
Class 12 · Accountancy
→Firm has patent of ₹60000 and it became worthless. What will happen in Realisation Account?
Class 12 · Accountancy
→Which item will be transferred to the credit side of Realisation Account on dissolution?
Class 12 · Accountancy
→Which item will not be transferred to Realisation Account on dissolution?
Class 12 · Accountancy
→Why are book values of external liabilities credited to Realisation Account?
Class 12 · Accountancy
→Why are book values of assets debited to Realisation Account?
Class 12 · Accountancy
→If a partner takes over an asset at less than book value then what is the final effect of the difference?
Class 12 · Accountancy
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