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Question : A firm is dissolved, and Sunil, a partner, is to carry out the dissolution for which he will get Rs. 70,000, including expenses. Realisation Expenses were Rs. 25,000, which were paid by the firm. Realisation Account will be debited by

Option 1: Rs 95,000

Option 2: Rs 25,000

Option 3: Rs 70,000

Option 4: None of these


Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs 70,000


Solution : Answer = Rs 70,000

The realisation account will be debited with the amount of remuneration of Rs 70,000.
Hence, the correct option is 3.

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