Question

For to carry on dissolution firm has paid remuneration to partner amounted to 5000,realisation expenses amounted to 6000. Please tell me journal entry

Answer 1

Realisation a/c              ..Dr                              5,000
      To Partner's capital a/c                                                          5,000
(Being remuneration paid to partner)

Realisation a/c              ..Dr                              6,000
      To Bank a/c                                                                            6,000
(Being expenses on realisation paid)