Question

Pass journal entries for the following:
(a) Realisation expenses of ₹ 15,000 were to be met by Rahul, a partner but were paid by the firm.
(b) Ramesh, a partner was paid remuneration of ₹ 25,000 and he was to meet all expenses.
(c) Anuj, a partner, was paid remuneration of ₹ 20,000 and he was to meet all expenses. Firm paid an expense of ₹ 5,000.

Answer 1

a) Rahul Capital A/C ...dr. 15000

To Bank A/C 15000

b) Realisation A/C ...dr. 25000

To Ramesh Capital A/C 25000

c) i) Realisation A/C ...dr. 20000

To Anuj Capital A/C 20000

ii) Anuj Capital A/C ...dr. 5000

To Bank A/C 5000

Hope you understand..mark me as Brainliest

Answer 2

Answer:

As per the journal,

(A) An amount of Rs. 15000 has been debited from the Rahul's Capital account and it has been credited to Cash A/c.

This is being the realisation expenses paid by Rahul.

(B) An amount of Rs. 25000 has been debited from the Realisation account and it has been credited to the Ramesh's Capital A/c

This is being the remuneration allowed to ramesh on account of  taking responsibility of dissolution

(C) An amount of Rs. 20000 has been debited from the Realisation account and it has been credited to Anuj's Capital A/c

This is being the remuneration allowed to Anuj Capital Account.

An amount of Rs. 5000 has been debited from the Anuj's capital account and it has been credited to Bank A/c.

This is being the realisation expenses paid by the firm on behalf of Anuj.