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Write short note on Realisation account.

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SELF

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Bhavesh, Vipul and Hiral are the partners in a firm sharing profit and loss in the ratio of $2:2:1.$ They decided to share profits and losses in the ratio of $3:2:1$ in future. From this information, calculate the sacrificing ratio.
Which accounts are prepared to close the books at the time of dissolution of a partnership firm? Describe it.
Write the journal entries only for the issue of debentures from the following transactions $($Without Narration$) :$
$(i)$ Issued $8,000,4.5 \%$ debentures of $₹ 100$ each at par, redeemable also at par.
$(ii)$ Issued $9,000,5.5 \%$ debentures of $₹ 100$ each at discount of $10 \%$, redeemable at par.
$(iii)$ Issued $10,000,8 \%$ debentures of $₹ 200$ each at a premium of $10 \%$ redeemable at par.
Aroma limited issued $12,000, 8\%$ debentures of $₹ 100$ each at par as on $1/7/07.$ These debentures are to be redeemed on $30/6/13$ at $₹ 115$ per debenture. Pass the necessary journal entries the books of the company for Issued and redemption of debentures. $($without narration$)$
HIJ Limited issued equity shares of $₹ 10$ each. Amount called up on application $₹ 2.50$ per share, on allotment $₹ 3$ per share, on first call $₹ 3$ per share and on final call $₹ 1.50$ per share. A shareholder, Dhaval had $600$ shares. He did not pay allotment money and first call money and hence his shares were forfeited before making final call. Pass the journal entry in the books of company for forfeiture of shares.
From the following information calculate cash flow from financing activities:
Particulars $(Rs.)$
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Equity shares issued $1,45,000$
Redemption of preference shares $60,000$
Redemption of debentures $70,000$
Borowed bank loan $90,000$
Debenture interest paid $6,000$
Dividend paid $8,000$
Dividend-interest received $9,000$
Sale of furniture $32,000$
Purchase of machine $68,000$
Interest received on investments $13,000$
Paid for patents $19,000$
Dixit Electric Limited issued $7000, 7 \%$ debentures as on $1-1-2017$ of $₹ 500$ each at a discount of $6 \%.$ All the debentures are redeemable at a premium of $5 \%$ after six years. The amount was payable as follows :
On application $₹ 300$ per debenture; On allotment balance amount per debenture.
Pass the necessary journal entries for issue of debentures in the books of company.
$ R , B$ and $I$ are the partners sharing profit and loss in the ratio of $5: 4: 3$. B retires and $\frac{1}{4}$ th share of $B$ is acquired by $R$ and remaining share is acquired by I. Find out new profit and loss sharing ratio of $R$ and $I$.
Explain methods of dissolution without the interference of court.
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