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

Q-2 - CH-7 - Usha +2 Book 2018 - Solution

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

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

  1. Realisation expenses met by firm Rs. 800.
  2. Realisation expenses of Rs. 600 were 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 of Rs. 1,500 are to be met by partner Z but took out cash from the firm to pay his expense.

We are providing a solution of Question 02 Chapter 7 of +2 Part-1 – USHA in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of question numbers from 1 to 5 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 2 from the flowing video by using time stamps of the video.

2. Check out the Solution of this question in Article Format:-

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

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 Cash A/c   1,500
 (Being expenses paid from firms cash )    
     

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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
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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