MENU
Question -

Journalise the following transactions regarding Realisation expenses:
[a] Realisation expenses amounted to ₹ 2,500.
[b] Realisation expenses amounting to ₹ 3,000 were paid by Ashok, one of the partners.
[c] Realisation expenses ₹ 2,300 borne by Tarun, personally.
[d] Amit, a partner was appointed to realise the assets, at a cost of ₹ 4,000. The actual amount of Realisation amounted to ₹ 3,000.



Answer -

Journal

 

 

Particulars

L.F.

Amount

₹

Amount

₹

(a)

Realisation A/c

Dr.

2,500

To Bank A/c

2,500

(Realisation expenses paid)

(b)

Realisation A/c

Dr.

3,000

To Ashok’s Capital A/c

3,000

(Realisation expenses paid by Ashok)

(c)

No entry, as all Realisation expenses are borne personally by Tarun

(d)

Realisation A/c

Dr.

4,000

To Amit’s Capital A/c

4,000

(Realisation expenses paid to Amit)

Comment(S)

Show all Coment

Leave a Comment

Free - Previous Years Question Papers
Any questions? Ask us!
NodeJS Interview Questions Answers
ASP.Net Interview Questions Answers
Interview Questions Answers
×