Table Tennis Match expenses Rs.4,000.

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Solution

In the absence of any specific fund related to Table Tennis the Expenses incurred in Table Tennis Match will be shown in the Income and Expenditure Account. More over all the independent expenses are shown in the debit side of income and expenditure account.

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Expenses on realisation amount to Rs 4,000, which are paid by B. Write a Journal entry for this.

450

50

12 %

Journalise the following transactions regarding realisation expenses

(a) Realisation expenses amounted to Rs. 2,500.

(b) Realisation expenses amounted to Rs. 3,000 were paid by Ashok, one of the partners.

(d) Amit, a partner was appointed to realize the assets, at a cost of Rs. 4,000.

The actual amount of realisation amounted to Rs. 3,000.

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