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Question 05 Chapter 7 of +2 Part-1 - USHA Publication 12 Class Part - 1

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Question 05 Chapter 7 of +2-Part-1

5. (Journal Entries) Pass the required journal entry for each of the following cases :

Expenses of realisation of a firm amounted to Rs. 1,200.
Realisation expenses of the firm amounting to Rs. 1,600 paid by A partner.
Realisation expenses were agreed to be borne by Arun a partner personally. Expenses amount to Rs. 1,100.
Z was entrusted with the work of dissolution at a cost of Rs.1,200. Actual amount was Rs. 1,600.

We are providing a solution of Question 5 Chapter 7 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:

Date	Particulars		Debit	Credit
a)	Realisation A/c	Dr.	1,200
	To cash A/c			1,200
	(Being realisation expenses paid in cash )

b)	Realisation A/c	Dr.	1,600
	To A’s capital A/c			1,600
	(Being realisation expenses paid by partner)

c)	Arun’s capital A/c	Dr.	1,100
	To Cash A/c			1,100
	(Being expenses paid on behalf of Arun)

d)	Realisation A/c	Dr.	1,200
	To Z’s capital A/c			1,200
	(Being realisation expenses estimated amount transferred to Z’s Capital Account)

Question 05 Chapter 7 of +2 Part-1 - USHA Publication 12 Class Part - 1

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