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Realisation account vs revaluation account
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Answer / nikreet
Revaluation account and Realisation account both are nominal
account.
the purpose of revaluation account is taking the effect of
fluctuations in asset & liabilities in their books while
purpose of realisation account is to closing the books of
accounts of a comapany or a firm.
Revaluation a/c is made when any fluctuation in value of an
asset takes place.
realisation a/c is made at the time of liquidation of a
company or a firm.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / sri
The above said answers are correct. And the realisation
account also calculated at the time of analysing that the
business is going with profit or not? what will be the
value of the company in this present day market?
what am saying is correct or not. any correction in this
regard, i will accept, pls tell me.
| Is This Answer Correct ? | 28 Yes | 24 No |
Answer / pavan
realization account:-
An account used to record the disposal of an asset or assets and to determine the profit or loss on the disposal. The principle of realization accounts are that they are debited with the book value of the asset and credited with the sale price of the asset. Any balance therefore represents the profit or loss on disposal.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / raja
when assets are revalued revaluation account is prepared
nothing but any increase or decrease in assets
when company dissolved it will dispose it assets then
realization account is prepared
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / asuquo sarah1
revaluation is the process of bringing into records the
actual,true or current market value of the assets and
liability,while realisation is on the other hand is the
process whereby partnership is automatically dissolved or
brought to an end by the happenings of any event which makes
it unlawful to carry on as a bussiness
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mounesh k
revaluation account is one of the nominal account, when will change the existing partners like Add or continuing the same partner or death of existing partner,something will change or expect the future value and as well as profit basis.
Realisation account is also one of the nominal account,selling all the particular assets and liabilities in existing firm systematically.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / harshal ramkrishan patil
Revaluation a/c is created at change in profit sharing ratio,Realisation a/c is created at dissolution of the firm.
Both a/c is Nominal a/c.
Revaluation into records the actual,true or current market value of assets and liabilities;Realiasation is other hand process.
The purpose of the a/c is taking the effect of fluctuations in assets&liabilities in book value,Realisation a/c purpose of closing books of a/c.
| Is This Answer Correct ? | 0 Yes | 2 No |
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