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Question -

Journalise the following transactions regarding Realisation expenses:
[a] Realisation expenses amounted to тВ╣ 2,500.
[b] Realisation expenses amounting to тВ╣ 3,000 were paid by Ashok, one of the partners.
[c] Realisation expenses тВ╣ 2,300 borne by Tarun, personally.
[d] Amit, a partner was appointed to realise the assets, at a cost of тВ╣ 4,000. The actual amount of Realisation amounted to тВ╣ 3,000.



Answer -

Journal

┬а

┬а

Particulars

L.F.

Amount

тВ╣

Amount

тВ╣

(a)

Realisation A/c

Dr.

2,500

To Bank A/c

2,500

(Realisation expenses paid)

(b)

Realisation A/c

Dr.

3,000

To AshokтАЩs Capital A/c

3,000

(Realisation expenses paid by Ashok)

(c)

No entry, as all Realisation expenses are borne personally by Tarun

(d)

Realisation A/c

Dr.

4,000

To AmitтАЩs Capital A/c

4,000

(Realisation expenses paid to Amit)

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