Question

pass journal entry for the following anuj a partner was paid remuneration of rupees 20000 and he was to meet all expenses firm paid an expense of rupees 5000

Answer 1

1 entry in the favor of anuj is anuj ac Dr 20000 To cash ac 20000 and second will be all expenses ac Dr 5000 To anuj ac 5000

Answer 2

We have, Anujwho is a partner was paid remuneration of rupees 20000.

Also he was to meet all expenses firm paid an expense of rupees 5000.

Therefore the date entry in the favour of Anuj is Anuj ac Dr 20000 to the cash ac 20000.

And all the expenses will be Dr 5000 To Anuj ac 5000.