Interested to Buy Any Domain ? << Click Here >> for more details...
Realisation account vs revaluation account
- 17 Answers
- 95800 Views
- Andhra Bank, I also Faced
- E-Mail Answers
Answer Posted / arvind singh
Revaluation account first of all is a nominal account
carring only increase and decrease in the value of assets
and liabilities from last balance sheet date to up to
date.It is revalued at the time when there is change in
profit sharing ratio between existing partners or when new
partner is admitted into the partnership firm or when any
one or more partner desire to retire from the partnership
firm or at the time when any one of the exiting partner get
expire.
Whereas Realisation account is prepare at the time of
dissolution of partnership firm when no one partner desire
to run the firm anymore.So they simply, prepare the
realisation account in which they transfer the book value
of all assets and liabilities except cash.By transfering
the values of different assets and liabilities the curtail
their operation of partnership business.Thankyou
| Is This Answer Correct ? | 98 Yes | 12 No |
Post New Answer View All Answers
what is the meaning of (PDD’s, DOD’s, CFR’s,) based on understanding of the business process
what is cc limit and what role accountant play to maintain it?
HOW TO PASTE MORE THAN 8 PO'S (PURCHASE ORDER) IN MM posting?
What is payment/receipt/period accruals?
Expand------ARN
EXPAND_________SEB
what is Ratio Analysis ?
how to entry of hra
What is meant by Nostro Reconciliation
whst is detailed information aboutaccounting standards 20to 29
What do you know about hyd? Tell something about hyd?
why may types of accounts
1.tell about urself? 2.wt is BRS? 3.VAT? 4.Golden principle of accounting?
which kind of expenses or Income will come under direct expenses or Income ?
What problems might be encountered if there were no accounting standards?
