Question

Mr. A purchased 1000 unites of Reliance Power Fund at Rs. 5,000 on 1st Feb, 2019. He sold all the units on 16th Oct, 2020 at NAV Rs. 8.00 Net Profit of Mr. A is * O 3000 O 5000 O 8000 1000

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Answer 1

Answer:

Realisation A/c Dr. 7500

To Alok's Capital A/c 7500

(Being remuneration paid to Alok for realisation expenses)

(ii) Alok's Capital A/c Dr. 10000

To Bank A/c 10000

(Being realisation expenses paid by the firm on behalf of Alok)

(b) Realisation A/c Dr. 5000

To Ravinder's Capital A/c 3000

To Bank A/c 2000

(Being realisation expenses paid partly by firm and partly by Ravinder)

(c) Realisation A/c Dr. 10000

To Amit's Capital A/c 10000

(Being dissolution expenses paid by Amit on behalf of the firm)