HSC Commerce (Marketing and Salesmanship) 12th Board ExamMaharashtra State Board
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Expenses Incurred on a Dissolution of a Partnership Firm. - HSC Commerce (Marketing and Salesmanship) 12th Board Exam - Book Keeping and Accountancy

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Question

Expenses incurred on a dissolution of a partnership firm.

Solution

Realisation Expenses

ExplanationRealisation Expenses are the expenses incurred on the dissolution of a firm. These expenses belong to the firm and hence, they should be paid by the firm. However, sometimes these expenses are paid by the firm on behalf of a partner. In such cases, the Concerned Partner’s Capital/Current Account is debited.
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APPEARS IN

 2013-2014 (March) (with solutions)
Question 1.2.3 | 1.00 mark
Solution Expenses Incurred on a Dissolution of a Partnership Firm. Concept: Dissolution of Partnership Firm.
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