Question : Sunil, a partner, is paid a remuneration of Rs.25,000 for dissolution work. Realisation expenses amounted to Rs. 9,000 were paid by him. The realization account will be debited by
Option 1: Rs 25,000
Option 2: Rs 9,000
Option 3: Rs 34,000
Option 4: Rs 16,000
Correct Answer: Rs 34,000
Solution : Answer = Rs 34,000 Realisation a/c Dr 25,000 To Sunil's capital a/c 25,000 (Remuneration) When expenses are paid by the partner Realisation a/c Dr 9,000 To Sunil's capital a/c 9,000 (OR) Realisation a/c Dr 34,000 To Sunil's capital a/c 34,000 Hence, the correct option is 3.
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
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
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile