Question

1. Expenses of realisation ₹ 8,000.
2. Expenses of realisation ₹ 10,000 were paid by a partner.
3. Realisation expenses of ₹ 12,000 were to be met by Tushar, a partner, but were paid by the firm.
4. Suresh, a partner, was paid remuneration of ₹ 10,000 and he was to meet all expenses.
5. Viru, a partner, was paid remuneration of ₹ 15,000 and he was to meet all expenses. Actual Expenses amounted to ₹ 20,000 which were paid by the firm.
6. Realisation expenses amounting to ₹ 15,000 were paid by the firm. ₹ 10,000 were to be borne by a partner and the balance by the firm.
7. Gauri, a partner, was allowed a remuneration of ₹ 25,000 and he was to meet all expenses. Firm paid an expense of ₹ 5,000.

Answer 1

Journal Entry
Date	Particulars	L.F.	Dr. (₹)	Cr. (₹)
(i)	Realisation A/c    ...Dr.		5,000	-
	To Bank A/c		-	5,000
	(Being Payment of realisation expenses)
(ii)	Realisation A/c    ...Dr.		10,000	-
	To Partner’s Capital A/c		-	10,000
	(Being Realisation expenses paid by Partner on behalf of the firm)
(iii)	Tushar’s Capital A/c    ...Dr.		12,000	-
	To Bank A/c		-	12,000
	(Being Realisation expenses paid by the firm on behalf of the Tushar)
(iv)	Realisation A/c    ...Dr.		10,000	-
	To Suresh’s Capital A/c		-	10,000
	(Being remuneration paid to Suresh)
(v) (a)	Realisation A/c    ...Dr.		15,000	-
	To Viru’s Capital A/c		-	15,000
	(Being remuneration paid to Viru)
(v) (b)	Viru’s Capital A/c    ...Dr.		20,000	-
	To Bank A/c		-	20,000
	(Being Realisation expenses met by Viru and paid by firm)
(v) (c)	Realisation A/c    ...Dr.		15,000	-
	Viru’s Capital A/c    ...Dr.		5,000	-
	To Bank A/c		-	20,000
	(Being remuneration paid to Viru & Realisation expenses met by Viru and paid by firm)
(vi)	Realisation A/c    ...Dr.		5,000	-
	Partner’s Capital A/c    ...Dr.		10,000	-
	To Bank A/c		-	15,000
	(Being Realisation expenses paid by firm & met by Partner’s firm)
(vii)	Realisation A/c    ...Dr.		25,000	-
	To Gauri’s Capital A/c		-	20,000
	To Bank A/c		-	5,000
	(Being remuneration paid to Gauri Realisation expenses met by Partner’s paid by firm)