Question : A firm is dissolved, and Sunil, a partner, is to carry out the dissolution for which he will get Rs. 70,000, including expenses. Realisation Expenses were Rs. 25,000, which were paid by the firm. Realisation Account will be debited by
Option 1: Rs 95,000
Option 2: Rs 25,000
Option 3: Rs 70,000
Option 4: None of these
Answer (1)
16th Jan, 2024
Correct Answer: Rs 70,000
Solution :
Answer = Rs 70,000
The realisation account will be debited with the amount of remuneration of Rs 70,000.
Hence, the correct option is 3.
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