Question

At the time of the dissolution of the partnership firm of Sanjay and Mitali, its Balance Sheet showed Deferred Revenue Expenditure of ₹ 30,000.

Give the journal entry to treat this item.

Answer 1

Particulars	L.F.	Debit (₹)	Credit (₹)
Sanjay’s Capital A/c     ...Dr.		15,000
Mital’s Capital A/c     ...Dr.		15,000
To Deferred Revenue Expenditure			30,000
(Being deferred revenue expenditure transferred to partner’s Capital A/c)