When the realisation expenses are to be borne by a partner, it is credited to ___________

Partner's Capital A/c

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Cash A/c

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Realisation A/c

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Profit and Loss A/c

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Solution

The correct option is A
Partner's Capital A/c

When the realisation expenses are to be borne by a partner, it is credited to Partner's Capital A/c

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Similar questions

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.

The expenses of Realisation are _______________ Realisation A/c.

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.

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