No products in the cart.

Ask questions which are clear, concise and easy to understand.

Ask Question
  • 2 answers

Adit Ya 3 years, 10 months ago

TTTTTTTTTTTTeeeeeeeeeeeerriiiiiiii mmmmmmmmmmmmmaaaaaaaaaaaaaaaaa kkkkkkkkkkiiiiiiiiiiii ccccccccchuuuuutttttt
Nashe me rehte ho kya, App me hi niche dekho mil jayega.
  • 1 answers

Akash Kumar 4 years, 1 month ago

3.6
  • 0 answers
  • 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)

-
  -   -

 

 

 

 

 

  • 3 answers

Yashika Nigam 1 year, 5 months ago

bark

Ritika Kumari 3 years ago

Help

Darshan Rohit 4 years, 1 month ago

Answer Bahu
  • 0 answers
  • 0 answers
  • 2 answers

Daya Ram 3 years, 10 months ago

डॉ वासुदेवशरण अग्रवाल

Ankit Kumar 4 years, 1 month ago

Hi
  • 1 answers

Guruvendra Singh 4 years, 1 month ago

N c e r t
  • 3 answers

Ch.Faizan Gurjar 4 years, 1 month ago

sin30 (1/2) and cos60 (1/2)

Rajnish Kumar 4 years, 1 month ago

Hi

Yogita Ingle 4 years, 1 month ago

Sin30 = 1/2

Cos60 = 1/2

Sin30 Cas60 = 1/2 × 1/2 = 1/4

  • 0 answers
  • 0 answers
  • 0 answers
  • 1 answers

Moin Mansoori 4 years, 1 month ago

Exercise 3.3
  • 0 answers
  • 3 answers

Shubham Malvi Malvi 3 years, 11 months ago

tens.

Rajkumar Yadav 4 years, 1 month ago

Bridal means pertaining to marriage

Aditya Yadav 4 years, 1 month ago

Good
  • 1 answers

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 ।
  • 3 answers

Abhishek Yadav 2 years, 8 months ago

Lebcho character

Nidhi Yadav 4 years, 1 month ago

Long question answer

Fareed Ahmad 4 years, 1 month ago

What did edison
  • 0 answers
  • 1 answers

Abhishek Kumar 3 years, 11 months ago

I don't know care
  • 0 answers
  • 1 answers

Sushil Kumar 1 year, 1 month ago

Note Hindi medium

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App