Question

Give The journal entry for Realisation expenses paid by the partner on behalf of the firm​

Answer 1

Answer:

EXPENSES PAID BY THE PARTNER TOWARDS REALISATION WILL BE DEBITED TO REALISATION A/C AND CREDITED TO PARTNER'S CAPITAL A/C. Answer: Debit realization account and credit respective partner's capital account with the expense amount

Answer 2

EXPENSES PAID BY THE PARTNER TOWARDS REALISATION WILL BE DEBITED TO REALISATION A/C AND CREDITED TO PARTNER'S CAPITAL A/C. Answer: Debit realization account and credit respective partner's capital account with the expense amount.