Question : Realization expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses. In this case the account will be credited
Option 1: Realisation a/c
Option 2: Bank account
Option 3: X's capital account
Option 4: None of the above

Question

Question : Realization expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses. In this case the account will be credited

Option 1: Realisation a/c

Option 2: Bank account

Option 3: X's capital account

Option 4: None of the above

Team Careers360 · Accepted Answer

Correct Answer: Bank account

Solution : Answer = Bank account

When Realisation Expenses are Paid by the firm on the Behalf of Partner.
(Has to Bear Expenses of Realisation)

Partner's capital a/c Dr 15,000
To Bank a/c 15,000
Hence, the correct option is 2.

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Question : Realization expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses. In this case the account will be creditedOption 1: Realisation a/cOption 2: Bank accountOption 3: X's capital accountOption 4: None of the above

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Question : Realization expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses. In this case the account will be credited
Option 1: Realisation a/c
Option 2: Bank account
Option 3: X's capital account
Option 4: None of the above