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Class 12 · Accountancy
→On dissolution of a partnership firm, if an amount from the debtors proves to be irrecoverable, how is it treated in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution of a partnership firm, if a partner takes over an asset in kind instead of paying cash, what will be the accounting effect?
Class 12 · Accountancy
→If, on dissolution of a partnership firm, a creditor agrees to bear the realisation expenses, which accounting entry will be passed?
Class 12 · Accountancy
→If an external liability is not transferred to the Realisation Account but its payment is recorded, what will be the effect on profit?
Class 12 · Accountancy
→How is prepaid insurance treated in the Realisation Account on the dissolution of a firm?
Class 12 · Accountancy
→At the time of dissolution, if a partner takes over an unsold asset of the firm at an agreed value, what will be the accounting treatment?
Class 12 · Accountancy
→When a loss arises in the Realisation Account on dissolution of a firm and the partners have different profit-sharing ratios, on what basis will the loss be transferred to their Capital Accounts?
Class 12 · Accountancy
→What is the usual accounting treatment of Bills Receivable on the dissolution of a partnership firm?
Class 12 · Accountancy
→At the time of dissolution of a firm, how are bills receivable treated in the Realisation Account?
Class 12 · Accountancy
→At the time of dissolution, if a creditor takes over an asset of the firm in settlement of the creditor’s claim, what will be the accounting effect?
Class 12 · Accountancy
→When a partner pays the realisation expenses from personal funds on behalf of the firm, what is the correct effect of the accounting entry?
Class 12 · Accountancy
→During the dissolution of a firm, an unrecorded liability is discovered. What accounting treatment should be made to record it in the books?
Class 12 · Accountancy
→When an unrecorded asset is sold for cash at the time of dissolution, how is it treated in the Realisation Account?
Class 12 · Accountancy
→If all transactions in Realisation Account are correct but profit sharing ratio is wrongly applied what happens
Class 12 · Accountancy
→If all assets are correctly recorded in the Realisation Account, but part of the liabilities is omitted and is subsequently paid, what will be the effect on the final result of the Realisation Account?
Class 12 · Accountancy
→During dissolution, after all necessary adjustments have been correctly recorded in the Realisation Account and the assets and liabilities have been settled, what is the final result if the account shows a credit balance?
Class 12 · Accountancy
→If all accounting errors in the Realisation Account are in the same direction, what will be their overall effect?
Class 12 · Accountancy
→If the profit from the Realisation Account is distributed among the partners in an incorrect ratio at the time of dissolution, what will be the most direct effect?
Class 12 · Accountancy
→During dissolution, after all relevant entries have been recorded in the Realisation Account and its profit or loss has been transferred to the partners’ capital accounts, if the debit and credit totals still do not agree, what does this generally indicate?
Class 12 · Accountancy
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