Question : Realisation expenses of Rs 10,000 were paid by the firm. Choose the correct journal entry.
Option 1: Realisation A/c ...Dr. 10,000
To Cash/BankA/c 10,000
Option 2: Realisation A/c ...Dr. 10,000
To Concerned Partner's Capital A/c 10,000
Option 3: Concerned Partner's Capital A/c Dr. 10,000
To Cash/Bank A/c 10,000
Option 4: Cash/BankA/c..Dr. 10,000
To Realisation A/c 10,000
Answer (1)
7th Jan, 2024
Correct Answer:
Realisation A/c ...Dr. 10,000
To Cash/BankA/c 10,000
Solution :
Answer =
Realisation A/c ...Dr. 10,000
To Cash/BankA/c 10,000
When realization expenses are paid by the firm, then the realization account will be debited and credited to the cash account.
Hence, the correct option is 1.
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