Pass Journal entries for the following transactions : (i) Realisation expenses amounted to ?
Channel: Doubtnut
Date: 2020-03-29

Pass Journal entries for the following transactions : (i) Realisation expenses amounted to ? 10 , 000. (ii) Realisation expenses of ? 5,000 were paid by the firm on behalf of Taran , a partner . (iii) Realisation expenses of ? 5,000 were paid by the firm on behalf of Madan , a partner . (iv) Pawan , a partner was paid remuneration (including expenses) of ? 20 , 000 to carry out dissolution of the firm . Actual expenses were ? 10 , 000 . (v) Dissolution expenses were ? 8 , 000 . Out of the said expenses , ? 3,000 were to be borne by the firm and the balance by Ravi , a partner . ? 8,000 are paid by the firm . (vi) Dissolution expenses were ? 8 ,000, ? 3,000 were to be borne by the firm and the balance by Rajib , a partner . The expenses were paid by the partner . (vii) Realisation expenses of ? 5,000 were to be borne and paid by Karan , a partner . (viii) Manoj , a partner is to carry out dissolution of the firm at an agreed remuneration of ? 10 , 000 . (ix) Dev , a partner is paid remuneration of ? 15,000 for dissolution of the firm . Realisation expenses of ? 8,000 are paid by the firm . (x) Realisation expenses of ? 5,000 were to be borne by Pavit , a partner . However it was paid by Hitesh , another partner .