Question

Difference between dissolution work and realisation expenses

Answer 1

The object of preparing Realisation account is to close the books of accounts of the dissolved firm and to determine profit or loss on the Realisation of assets and payment of liabilities. It is prepared by : Debiting the dissolution expenses of the firm.

Answer 2

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⏩The object of preparing Realisation account is to close the books of accounts of the dissolved firm and to determine profit or loss on the Realisation of assets and payment of liabilities.

⏩it is prepared by Debiting the dissolution expenses of the firm.


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