Question

Q-15 Pass the journal entries for the following transactions:
1- Realization expenses amounted to Rs. 5,000
2- Realization expenses paid by the firm amounted to Rs. 2,000 and Aman, a partner has to bear
the realization expenses.
3- Realization expenses amounted Rs. 3,000 were paid by Ramesh, a partner.
4- Realization expenses were Rs. 7,000; Rs. 4,000 were to be borne by the firm and the balance
by Sanjay, a partner. The expenses were paid by Sanjay.
5- Realization expenses were Rs. 15,000. Out of the said expenses, Rs. 11,000 were to be born by
the firm and the balance by Sonu, a partner.
(6)​

Answer 1

Answer:

a) (i) 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)

Explanation:

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