1.

What is realization account. ​

Answer»

Explanation:

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. ... In LAST if total of credit side exceeds debit side, it means there is profit and that is TRANSFERRED to PARTNER's capital accounts.



Discussion

No Comment Found

Related InterviewSolutions