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Realisation A/c

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(Querist)
10 May 2011 It is said that Realisation A/c is a nominal a/c because it is used to find out Profit/Loss at the time of Amalgamation or Dissolution of Partnership. But, the rule for nominal a/cs, i.e. Debit all expenses and losses and Credit all Incomes and Gains is not followed here! Infact, there's no nominal a/c which is either debited or credited to Realisation A/c. It contains all personal and real a/cs appearing in the B/S. Then, how can it be a nominal a/c. Is its nature something different? Please help.
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prashant bhardwaj

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prashant bhardwaj (Expert)
10 May 2011 dear Nishant,
while preparing Realisation going concern concept is not applied so all accounts are of nominal nature except capital accounts
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