Question 02 Chapter 7 of +2-A - T.S. Grewal 12 Class Part

Question 02 Chapter 7 of +2-A

Table of Contents

The solution of Question 02 Chapter 7 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

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)

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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

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