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Which account is remain open when we open realisation account?

Realisation Account Management Accounts
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Question added by Akash Chadar
Date Posted: 2018/10/22
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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.

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