Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Which account is remain open when we open realisation account?

user-image
Question added by Akash Chadar
Date Posted: 2018/10/22
Muhammad  Matloob
by Muhammad Matloob , A.M. Finance & Taxation , Kassim Textiles (Pvt.) Limited

Actually Realisation A/c is a Nominal A/c. This account is prepared to calculate the profit/loss made on realisation of assets and settlement of liabilities, at the end Profit or loss transfer to Partners capital a/c.

so partner capital a/c remain open when we open realisation account.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.