Question 02 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q 2 CH 7 Usha 2 Book 2018 Solution min - Question 02 Chapter 7 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 02 Chapter 7 of +2-Part-1

Free Accounting book Solution - Class 11 and Class 12

2. (Realisation Entries) Journalise the following in the books of firm.

  1. Realisation expenses met by firm Rs. 800.
  2. Realisation expenses Rs. 600 paid by partner X.
  3. Partner Y will get Rs. 6,000 for supervising dissolution and he will bear dissolution expenses from his pocket which amounted to Rs. 1,800.
  4. Realisation expenses Rs. 1,500 are to be met by partner Z but took out cash from firm pay his expense.

The solution of Question 02 Chapter 7 of +2 Part-1: –

Journal
Date   Particulars
L.F. Debit Credit
a) Realisation A/c Dr.   800  
  To Bank A/c       800
  (Being expenses met by firm )        
           
b) Realisation A/c Dr.   600  
  To X’s capital A/c       600
  (Being expenses paid by X)        
           
c) Realisation A/c Dr.   6,000  
  To Y’s capital A/c       6,000
  (Being expenses payable by Y)        
           
d) Z’s capital A/c Dr.   1,500  
  To Realisation A/c       1,500
  (Being expenses paid from firms cash )        
         

Comment if you have any questions.


Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 02 Chapter 7 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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