Accountancy, asked by vaishnavharish22, 7 months ago

meaning of realisation and dissolution

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Answered by Anonymous

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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.

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