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Realisation a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2011 in tallyerp9 under which group Realisation account is to be opened at the time of dissolution or takeover of the firm by company?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 July 2011 Realization account is prepared at the time of closure of business. E.g. Dissolution of a partnership, Amalgamation of a company.

ü In case of partnership net realization loss or profit is transferred to partner’s capital account in profit sharing ratio.

ü Where in case of companies; it is transferred to equity share holder’s account.


It can be under Reserves & Surplus head
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