At the time of dissolution of their firm, Ahmed and Subhash, who are partners of that firm, agreed that Ahmed will pay realization expenses for a fixed remuneration of Rs.12,000. The actual expenses were Rs. 16,000. The Journal entry to be passed is Option 1: Ahmed Capital A/c Dr 16,000 To Realization A/c 16,000 Option 2: Realisation A/c Dr 12,000 To Bank A/c 12,000 Option 3: Realisation A/c Dr 12,000 To Ahmed Capital A/c 12,000 Option 4: Realization A/c Dr 16,000 To Ahmed Capital A/c 16,000

The answer is 'Realisation A/c Dr 12,000 To Ahmed Capital A/c 12,000'. View full solution:

CUET Accountancy - At the time of dissolution of their firm, Ahmed and Subhash, who are partners of that firm, agreed that Ahmed will pay realization expenses for a fixed remuneration of Rs.12,000. The actual expenses were Rs. 16,000. The Journal entry to be passed is | PYQs + Solutions

CUET Accountancy 2022 16 July Shift 2

Partnership

Medium

Ahmed Capital A/c Dr 16,000

To Realization A/c 16,000

Realisation A/c Dr 12,000

To Bank A/c 12,000

Realisation A/c Dr 12,000

To Ahmed Capital A/c 12,000

Realization A/c Dr 16,000

To Ahmed Capital A/c 16,000

✅ Correct Option: 3

Related questions:

3 June Shift 1

Match List-I with List-II

List–I (Events)	List–II (Result)
(A) Termination of business.	(I) Not possible in dissolution of partnership.
(B) Continuation of Business	(II) Not possible in the dissolution of a firm.
(C) Intervention of court.	(III) Dissolution of firm
(D) Continuation of books of accounts.	(IV) Dissolution of partnership.

Choose the correct answer from the options given below:

20 June Shift 2

Identify that will lead to dissolution of partnership

2 June Shift 2

Anubha looked after the dissolution work for remuneration of Rs. 8,500 and agreed to bear dissolution expenses upto Rs. 6,000. Actual expenses paid by her were Rs. 7,600. What will be the journal entry for remuneration payable to Anubha?

(A) Realisation A/c is debited by 8,500

(B) Anubha's Capital A/c is credited by 8,500.

(D) Anubha's Capital is credited by13,600.

Choose the correct answer from the options given below:

CUET Accountancy 2022 16 July Shift 2 PYQs

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