Question

Realisation expenses of 500 were to be born by X a partner. However it was paid by y. pass journal entry. also explain the reason behind it also madam solutions of ts grewal are not opening thanks!!

Answer 1

There is no requirement for any entry in the books of firm. Since the expenses are to be born by X and paid by Y. Or else if you want this entry shall reflect in firm books Dr X capital Account Rs 500 to Y capital Account Rs 500/- Since the expenses are to be born by the partner, no nominal account is affected.