Question : Anil, a partner, is paid a remuneration of Rs.20,000 for dissolution work. Realisation expenses amounted to Rs.7,500 and were paid by the firm. The realization account will be debited by
Option 1: Rs 27,500
Option 2: Rs 20,000
Option 3: Rs 7,500
Option 4: None of the above

Question

Question : Anil, a partner, is paid a remuneration of Rs.20,000 for dissolution work. Realisation expenses amounted to Rs.7,500 and were paid by the firm. The realization account will be debited by

Option 1: Rs 27,500

Option 2: Rs 20,000

Option 3: Rs 7,500

Option 4: None of the above

Team Careers360 · Accepted Answer

Correct Answer: Rs 27,500

Solution : Answer = Rs 27,500

When partner's get remuneration
Realisation a/c Dr 20,000
To Anil's capital a/c 20,000

When expenses paid
Realisation a/c Dr 7500
To Anil's capital a/c 7500

Final entry
Realisation a/c Dr 27,500
To Partner's capital a/c 27,500
Hence, the correct option is 1.

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Question : Anil, a partner, is paid a remuneration of Rs.20,000 for dissolution work. Realisation expenses amounted to Rs.7,500 and were paid by the firm. The realization account will be debited byOption 1: Rs 27,500Option 2: Rs 20,000Option 3: Rs 7,500Option 4: None of the above

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Question : Anil, a partner, is paid a remuneration of Rs.20,000 for dissolution work. Realisation expenses amounted to Rs.7,500 and were paid by the firm. The realization account will be debited by
Option 1: Rs 27,500
Option 2: Rs 20,000
Option 3: Rs 7,500
Option 4: None of the above