Question 02 Chapter 7 of +2-A
Table of Contents
2. Pass Journal entries for the following:
a Realisation expenses of 15,000 were to be met by Rahul, a partner, but were paid by the firm.
b Ramesh, a partner, was paid remuneration of 25,000 and he was to meet all expenses.
c Anuj, a partner, was paid remuneration of 20,000 and he was to meet all expenses. Firm paid an expense of 5,000.
The solution of Question 02 Chapter 7 of +2-A: –
| Date | Particulars |
L.F. | Debit | Credit | |
| a | Rahul’s Capital A/c | Dr. | 15,000 | ||
| To Cash A/c | 15,000 | ||||
| (Being Realization Expenses paid by Rahul) | |||||
| b | Realization A/c | Dr. | 25,000 | ||
| To Ramesh’s Capital A/c | 25,000 | ||||
| (Being Remuneration allowed to Ramesh on account of taking responsibility of dissolution) | |||||
| c | Realization A/c | Dr. | 20,000 | ||
| To Anuj’s Capital A/c | 20,000 | ||||
| (Being Remuneration allowed to Anu) | |||||
| Anuj’s Capital A/c | Dr. | 5,000 | |||
| To Bank A/c | 5,000 | ||||
| (Being Realisation expenses paid by the firm on behalf of Anu) | |||||
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
