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  • 1 answers

Akash Kumar 4 years, 1 month ago

3.6
  • 1 answers

Gaurav Seth 4 years, 1 month ago

Realization Account is prepared at the time of dissolution of a partnership firm.  This account is prepared to know the profit made or loss incurred at the time of dissolution of a firm.  All the assets except cash and bank a/c are transferred to the debit side of realization account and liabilities (not capital accounts) are transferred to the credit side of realization account.  When assets are sold cash/bank A/c is debited and Realization A/c credited.  On settling the liabilities Realization A/c is debited and Cash/Bank A/c is credited.   In last if total of credit side exceeds debit side, it means there is profit and that is transferred to partner's capital accounts.  In case of loss, the partners' capital accounts are debited and Realization A/c credited.

  Format of Realisation Account
Dr.                                                                                             Cr.

Particulars

Amount (Rs.)

Particulars 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)

-
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  • 2 answers

Daya Ram 3 years, 10 months ago

डॉ वासुदेवशरण अग्रवाल

Ankit Kumar 4 years, 1 month ago

Hi
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Moin Mansoori 4 years, 1 month ago

Exercise 3.3
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Satyam Prajapati 3 years, 9 months ago

Vrishti अर्थशास्त्र के अन्तर्गत अर्थव्यस्थाओं के छोटे छोटे टुकड़ों का अध्ययन किया जाता है जैसे एक फर्म , एक उपभोक्तता आदि ।
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K
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Anuj Soni 3 years, 11 months ago

Exercise 2.1 question 14th answer plz
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Firstly you learn concepts and after numericals solved, firstly you solve easy numericals and after jump on hard
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Biology kafirstlesson
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Vimal Vimal Kumar Verma 2 years, 8 months ago

ठीक है ????

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Benzamide को जल की उपस्थिति में गर्म करने पर बेंजोइक अम्ल प्राप्त होता है तथा अमोनिया गैस मुक्त होती है

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