Question : A firm is dissolved, and Pritam, a partner is to carry out the dissolution for which he will get Rs. 10,000, including expenses. Realisation Expenses were Rs. 2,500. Realisation Account will be debited by
Option 1: Rs 10,000
Option 2: Rs 12,500
Option 3: Rs 7,500
Option 4: None of these
Answer (1)
13th Jan, 2024
Correct Answer: Rs 10,000
Solution :
Answer =
Rs 10,000
The realisation account will be debited by Rs 10,000. When the partner gets a commission and agrees to bear all expenses, the realisation account will be debited only with the amount of remuneration.
Hence, the correct option is 1.
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