Question

Journal entry for realization expenses which are paid by partner in dissoulution

Answer 1

$\huge\mathfrak\green{ANSWER }$

It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account. Transferring all the liabilities except Partner's Loan Account and Partners' Capital Accounts to the credit side of the account. Crediting the Receipt on the sale of assets to the account

Answer 2

ANSWER

It is prepared by: Transferring all the assets except Cash or Bank Account to the debit side of the account. Transferring all the liabilities except Partner's Loan Account and Partners' Capital Accounts to the credit side of the account. Crediting the Receipt on the sale of assets to the account.

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