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Why realisation loss taken 2 times in current account as well as capital account
Answers (6)
MATURU HAMSA GAYATRI
Realisation loss is transferred to partners so it was debited to current a/c Partners bring in cash for that loss ,so there is credit in capital a/ c
If there is no current account then we have to post only realisation entry In capital account and balance will transfer to bank account .is it right
MATURU HAMSA GAYATRI
No If there is no current account, We must debit realisation loss to capital account and credit the loss brought by partners to capital acc
Can you explain the treatment for patents in realisation account
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