Realisations account kaise banta h

Amount (Rs.)

Various Assets
(Excluding Cash/Bank, fictitious assets, Debit balance of P and L A/c, partner Capital A/c, Current A/c, Loan to Partner)

Various Liabilities
(Excluding Partner Capital account, reserves, P and L A/c, Current A/c, Loan to Partner)

Cash/Bank
(Payment for realisation expenses)

Provision on assets
(like, Provision for doubtful debts; Provision for depreciation)

Cash/Bank
(Payment to outside and unrecorded liabilities)

Cash/Bank
(Amount received from realisation of assets and unrecorded assets)

Partner's Capital A/c
(If any liability taken on expenses paid by him or remuneration payable to him )

Partner 's Capital A/c
(If any asset taken over by any partner)

Partner Capital A/c

(Profit on realisation distributed in the profit sharing ratio among all the partners)

Partner Capital A/c
(Loss on realisation borne by all the partners in their profit sharing ratio)