Pass Journal entries for the following:
(a) Realisation expenses amounted to Rs. 10,000 were paid on the behalf of Alok, a partner, with whom it was agreed at Rs. 7,500.
(b) Realisation expenses amounted to Rs. 5,000 It was agreed that the firm will pay Rs. 2,000 and balance by Ravinder, a Partner.
(c) Dissolution expenses amounted to Rs. 10,000 were paid by Amit, a partner, on behalf of the firm.

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Solution

(a) (i) Realisation A/c Dr. 7500
To Alok's Capital A/c 7500
(Being remuneration paid to Alok for realisation expenses)
(ii) Alok's Capital A/c Dr. 10000
To Bank A/c 10000
(Being realisation expenses paid by the firm on behalf of Alok)

(b) Realisation A/c Dr. 5000
To Ravinder's Capital A/c 3000
To Bank A/c 2000
(Being realisation expenses paid partly by firm and partly by Ravinder)

(c) Realisation A/c Dr. 10000
To Amit's Capital A/c 10000
(Being dissolution expenses paid by Amit on behalf of the firm)

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Q. Pass Journal entries for the following:
(a) Realisation expenses amounted to ₹ 10,000 were paid by the firm on behalf of Alok, a partner, with whom it was agreed at ₹ 7,500.
(b) Realisation expenses amounted to ₹ 5,000. It was agreed that the firm will pay ₹ 2,000 and balance by Ravinder, a partner.
(c) Dissolution expenses amounted to ₹ 10,000 were paid by Amit, a partner, on behalf of the firm.

Pass journal entries for the following transactions :

(i) Realisation expenses amounted to Rs. 5,000.

(ii) Realisation expenses amounted to Rs. 8,000 were paid by partner X.

(iii) Realisation expenses amounted to Rs. 10,000 were paid by the firm on behalf of a partner.

(iv) Realisation expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses.

(v) Realisation expenses amounted to Rs. 20,000 were paid by the firm. Rs. 8,000 were to be borne by the firm and the balance by Maruti, a partner.

Pass journal entries for the following transactions :

(i) Dissolution expenses amounted to Rs. 20,000. Rs. 8,000 were to be borne by the firm and the balance by Maruti, a partner. The expenses were paid by Maruti.

(ii) Sudhir, a partner, was allowed a remuneration of Rs. 10,000 to carry out dissolution of the firm. He was to bear all expenses of realisation which amounted to Rs. 16,000 were paid by the firm.

(iii) Ravi, a partner, is allowed a remuneration of Rs. 15,000 for dissolution work and is to bear all expenses of realisation which amounted to Rs 5,000 were paid by the firm.

(iv) Anil, a partner, is paid remuneration of Rs. 20,000 for dissolution work. Realisation expenses amounted to Rs. 7,500 were paid by the firm.

(v) Vijay, a partner, paid realisation expenses of Rs 10,000 and these were to be borne by him.

Q. Pass neceisaly Journal. entries on the dissolution of a firm in the fondling cases:
(a) Dharam, a partner, was appointed to Iook after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam.
(b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses Rs. 16,000 were paid by Vijay another partner on behalf of Jay.
(c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm's bank account.
(d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to realisation Account.
(e) Jeev, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to dissolution expenses. Actual dissolution expenses paid by Jeev were Rs. 12,000. These expenses were paid by Jeev by drawing cash from the firm.
(f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full Settlement of his account.

Give the necessary journal entries in each of the following alternative cases :

(i) Realisation expenses amounted to Rs. 500.

(ii) Realisation expenses paid by the firm amounted to Rs. 500 and the partner has to bear the realisation expenses.

(iii) 'A' one of the partners was to bear all the realisation expenses for which he was given a commission of 2% of net cash realised from dissolution. Cash realised from assets was Rs 25,000 and cash paid for liabilities amounted to Rs 5,000

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