Realisation expenses 12000 born by the partner Manisha These expenses were paid by Manisha by drawing cash from - Accountancy - Dissolution of Partnership Firm

Question

Realisation expenses ?12000 born by the partner Manisha These
expenses were paid by
Manisha by drawing cash from the firm She was allowed commission
?10,000 for process
of dissolution
Pass Journal entry

Rachna Puneet Mehta · Accepted Answer

Solution:

Date
Particular
L F
Dr
Cr

(A)
Realisation A/c Dr
To Manisha's capital A/c
(Being the commission due to Manisha)

10,000

(B)
Realisation A/c Dr
To Bank A/c
(Being the realisation expenses paid by the firm)

12000

Date	Particular	L.F	Dr.	Cr
(A)	Realisation A/c. Dr. . To Manisha's capital A/c (Being the commission due to Manisha)		10,000	10,000
(B)	Realisation A/c. Dr. To Bank A/c (Being the realisation expenses paid by the firm)		12000	12000

Realisation expenses ?12000 born by the partner Manisha. These expenses were paid by Manisha by drawing cash from the firm. She was allowed commission ?10,000 for process of dissolution. Pass Journal entry.

Realisation expenses ?12000 born by the partner Manisha. These expenses were paid by
Manisha by drawing cash from the firm. She was allowed commission ?10,000 for process
of dissolution.
Pass Journal entry.