English

Dissolution expenses amounting to ₹ 15,000 were to be borne by partner Y and the balance by the firm. Dissolution expenses amounted to ₹ 25,000 and the entire amount was paid by Y. Pass journal entry. - Accounts

Question

Dissolution expenses amounting to ₹ 15,000 were to be borne by partner Y and the balance by the firm. Dissolution expenses amounted to ₹ 25,000 and the entire amount was paid by Y. Pass journal entry.

Journal Entry

Solution

Journal entry
Date	Particulars	L.F.	Dr. (₹)	Cr. (₹)
	Realisation A/c ...Dr.		10,000	-
	To Y’s Capital A/c		-	10,000
	(Being Dissolution expenses paid by Y)