Question

Q.29 What journal entries will be recorded for following transaction:
(6)
Journalise the following transactions regarding Realisation expenses:
a) Realisation expenses amounted to Rs 2,500.
b) Realisation expenses amounting to Rs 3,000 were paid by Ashok, one of the partners.
c) Realisation expenses Rs 2,300 borne by Tarun, personally.
d) Amit, a partner was appointed to realise the assets, at a cost of Rs 4,000. The actual
amount of Realisation amounted to Rs 3,000.
e) Creditors were Rs 90,000. They accepted Buildings valued Rs 1,20,000 and paid cash to
the firm Rs 30,000.
1) Creditors worth Rs 85,000 accepted Rs 40,000 as cash and Investment worth Rs 43,000,
In full settlement of their clalm.
​

Answer 1

Answer:

realisation a/ c. dr 2500

To bank account. 2500

realisation. a/ c dr. 3000

To partners capital a/ c. 3000

no entry