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

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.DebitCredit
a)Realisation A/cDr. 800 
 To Bank A/c   800
 (Being expenses met by firm )    
      
b)Realisation A/cDr. 600 
 To X’s capital A/c   600
 (Being expenses paid by X)    
      
c)Realisation A/cDr. 6,000 
 To Y’s capital A/c   6,000
 (Being expenses payable by Y)    
      
d)Z’s capital A/cDr. 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

Leave a Reply

About us

About us, we are here to improve your knowledge in all financial & Business related topics and to get better carrier opportunities. The author has about 10-year Experience in tuition Business. It is very difficult to teach a large number of students with a personal touch or in a classroom. 

Animation's Resource websites

All Icons and images used on my website were downloaded from the following website please go and download free:-

close