Question:medium
Mr. Rinku and Mrs. Pinky were partners sharing profits in the ratio of 3 : 2. Their balance sheet was given. The firm was dissolved and various realisation transactions were given. Prepare Realisation Account.
Mr. Rinku and Mrs. Pinky were partners sharing profits in the ratio of 3 : 2. Their balance sheet was given. The firm was dissolved and various realisation transactions were given. Prepare Realisation Account.
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In dissolution:
1. Transfer all assets (except cash) to Realisation A/c.
2. Transfer liabilities to credit side.
3. Record partner asset takeover at agreed value.
4. Profit/loss transferred in old ratio.
Updated On: Feb 26, 2026
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