Reproduce the format of Realisation Account.
Format of Realisation Account |
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Dr. |
Cr. |
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Particulars |
Amount Rs |
Particulars |
Amount Rs |
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Various Assets (Excluding Cash/Bank, fictitious assets, Debit balance of P and L A/c, partner Capital A/c, Current A/c, Loan to Partner)
Cash/Bank (Payment for realisation expenses)
Cash/Bank (Payment to outside and unrecorded liabilities)
Partner's Capital A/c (If any liability taken on expenses paid by him or remuneration payable to him)
Partner Capital A/c (Profit on realisation distributed in the profit sharing ratio among all the partners) |
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Various Liabilities (Excluding Partner Capital account, reserves, P and L A/c, Current A/c, Loan to Partner)
Provision on assets (like, Provision for doubtful debts; Provision for depreciation)
Cash/Bank (Amount received from realisation of assets and unrecorded assets)
Partner 's Capital A/c (If any asset taken over by any partner)
Partner Capital A/c (Loss on realisation borne by all the partners in their profit sharing ratio) |
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– |
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