Question

Pass Journal entries for the following:
(a) Realisation expenses of ₹ 15,000 were to be met by Rahul, a partner, but were paid by the firm. 
(b) Ramesh, a partner, was paid remuneration of ₹ 25,000 and he was to meet all expenses.
(c) Anuj, a partner, was paid remuneration of ₹ 20,000 and he was to meet all expenses. Firm paid an expense of ₹ 5,000.

Answer 1

Journal

S.N.	Particulars		L.F.	Debits Amount Rs	Credit Amount Rs
(a)	Rahul’s Capital A/c	Dr.		15,000
	To Cash A/c
	(Realisation Expenses paid by Rahul )				15,000
(b)	Realisation A/c	Dr.		25,000
	To Ramesh’s Capital A/c				25,000
	(Remuneration allowed to Ramesh on account of taking responsibility of dissolution)
(c)	Realisation A/c	Dr.		20,000
	To Anuj’s Capital A/c				20,000
	( Remuneration  allowed to Anuj)
	Anuj’s Capital A/c                               Dr.			5,000
	To Bank A/c				5,000
	(Realisation expenses paid by the firm on behalf of Anuj)