When company goes to liquidation process then realization account is created which is a temporary account and all assets and lialibilities are realized through this account and after realization there may be surplus or defeciancy in realization account.
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
To prepare a realization account, start by listing all the assets and liabilities of the partnership or business being dissolved. Record the sale proceeds of assets on the credit side and any liabilities settled on the debit side. The difference between the total credit and debit will represent the profit or loss from the realization of assets. Finally, transfer the net result to the partners' capital accounts according to their profit-sharing ratio.
Drawings Account is a Temporary Account
Real Account
Revaluation account and Realisation account both are nominal account. the purpose of revaluation account is taking the effect of fluctuations in asset & liabilities in their books while purpose of realisation account is to closing the books of accounts of a comapany or a firm. Revaluation a/c is made when any fluctuation in value of an asset takes place. realisation a/c is made at the time of liquidation of a company or a firm.
realization account... never heard but what i know if you sold something like equipment.. that equipment was realized.. so realization took place there
Realisation
For GOD realisation
The cast of Eti..... Realisation Begins - 2008 includes: Gaurav Chatterjee
cheques are sent for collection to the issuers bank and after if they clear the cheque the amount is realised and hence it is called subject to realisation.
self realisation
Realisation is not a medical word.
how much effort you but into your work.
We can apply the bank realisation certificate once we received the foreign currrency realisation against the invoice. While appliing the certificate we have to fill the all details such as the commodity exported, the fob value of the invoice, the commission and freight value against the shipment and submit to the bank for attestation.
Before life realisation it was money and business and after it was people
Fear of loss, realisation that nothing after death is possible but anything they could have wanted or wanted to have done in life is possible. This final realisation that death is inevitable brings a panic and a fight.