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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. |
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Answer» 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. |
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