Question : Sudhir, a partner, was allowed a remuneration of Rs. 10,000 to carry out dissolution of the firm. He was to bear all expenses of realisation which amounted to Rs. 16,000 were paid by the firm. In this case partner's capital account will be debited by ------------
Option 1: Rs 10,000
Option 2: Rs 16,000
Option 3: Rs 6,000
Option 4: Rs 26,000
Correct Answer: Rs 6,000
Solution : Answer = 6,000 When the partner got a remuneration of Rs 10,000 and agreed to bear all expenses of realisation but paid by the firm. Realisation a/c.....Dr 10,000 To Sudhir's capital a/c 10,000 Sudhir's capital a/c...Dr 16,000 To Bank a/c 16,000 Finally, the partner's capital a/c will be debited by Rs 6,000. Hence, the correct option is 3.
Question : Ravi, a partner, is allowed a remuneration of Rs.15,000 for dissolution work and is to bear all expenses of realisation, which amounted to Rs.5,000, which were paid by the firm. In this case, finally, Ravi's capital account will be
Question : Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. The entry will be
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