Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:
A partner was paid Rs 15,000 to bear the Realisation expenses, while actual expenses were of Rs 10,000 for dissolution of firm. How and by how much amount, realisation account would be treated?
Options:
Debited by Rs 15,000
Debited by Rs 10,000
Credited by Rs 15,000
Credited by Rs 10,000
Correct Answer:
Debited by Rs 15,000
Explanation:
Firm paid 15,000 to partner for realisation, so Realisation will be debited by Rs 15,000 only in spite of actual expenses.