how to make realization account
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- A Realization Account is opened in order to find out any,profit or loss on realization of assets and making payment of liabilities.
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It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account. Transferring all the liabilities except Partner's Loan Account and Partners' Capital Accounts to the credit side of the account. Crediting the Receipt on the sale of assets to the account.
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