Question 05 Chapter 7 of +2-Part-1
5. (Journal Entries) Pass the required journal entry for each of the following cases :
- Expenses of realisation of a firm amounted to Rs. 1,200.
- Realisation expenses of the firm amounting to Rs. 1,600 paid by A partner.
- Realisation expenses were agreed to be borne by Arun a partner personally. Expenses amount to Rs. 1,100.
- Z was entrusted with the work of dissolution at a cost of Rs.1,200. Actual amount was Rs. 1,600.
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The solution of Question 05 Chapter 7 of +2 Part-1: –
Journal |
|||||
Date | Particulars |
L.F. | Debit | Credit | |
a) | Realisation A/c | Dr. | 1,200 | ||
To cash A/c | 1,200 | ||||
(Being realisation expenses paid in cash ) | |||||
b) | Realisation A/c | Dr. | 1,600 | ||
To A’s capital A/c | 1,600 | ||||
(Being realisation expenses paid by partner) | |||||
c) | Arun’s capital A/c | Dr. | 1,100 | ||
To Cash A/c | 1,100 | ||||
(Being expenses paid on behalf of Arun) | |||||
d) | Realisation A/c | Dr. | 1,200 | ||
To Z’s capital A/c | 1,200 | ||||
(Being realisation expenses estimated amount transferred to Z’s Capital Account) | |||||
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Check Out the Solution of all questions of this chapter:
The solution to all questions of Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
Question 02 Chapter 7 of +2 Part-1 – USHA Publication
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Question 12 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1
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Question 22 Chapter 7 of +2 Part-1 – USHA Publication
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Question 42 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1
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Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)
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Chapter No. 2 – Partnership Accounts – I (Introduction)
Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication
- Chapter No. 1 – Accounts of Non-Profit Organisations (Deleted from the Syllabus)
- Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
- Chapter No. 3 – Partnership Accounts – II (Goodwill)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Check out Part 2 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 2 Class 12 by Unimax Publication
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If partner is going to pay realisation expenses will there be any entry for that? And does
Realisation A/C dr.
To partner’s capital A/C
Means that it will be recorded in only partner capital a/c and not realisation a/c?
yes.
it will be recorded in the both