Question

where is transfered the profit and loss of realisation account at the time of a firm?​

Answer 1

Answer:

Realisation account is prepared at the time of dissolution of a firm to know the profit/loss at the time of dissolution of the firm. All assets except cash/bank are transferred to the debit side of realisation account.

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Answer 2

Answer:

The net profit belongs to the ownership of the business which is represented by the capital account .Therefore the net profit or loss are ultimately transferred to the capital account. Realizes account is prepared by the time of dissolution of a firm.

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