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: –
|To cash A/c||1,200|
|(Being realisation expenses paid in cash )|
|To A’s capital A/c||1,600|
|(Being realisation expenses paid by partner)|
|c)||Arun’s capital A/c||Dr.||1,100|
|To Realisation A/c||1,100|
|(Being expenses paid on behalf of Arun)|
|To Z’s capital A/c||1,200|
|(Being expenses payable)|
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- 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)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement