Question : Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3: 2. On 31st March 2018 the firm was dissolved. After the transfer of assets (other than cash in hand and at the bank) and third-party liabilities to the Realization Account, the following information was provided:
Question:
Realisation expenses amounted to Rs. 2,000 which were paid by Adiraj.

Option 1: Realization account debited Rs 2,000, credited bank account Rs 2,000

Option 2: Debited partner's capital account Rs 2,000 and credited bank account Rs 2,000

Option 3: Realization account debited Rs 2,000, credited partner's capital Rs 2,000

Option 4: None of the above

Question : An old computer completely written off was sold for Rs. 2,000 as scrap. Choose the correct Journal entry

Option 1: Computer account debited by Rs 2,000 and credited revaluation account Rs 2,000

Option 2: Revaluation account debited by Rs 2,000 and credited computer account Rs 2,000

Option 3: Debited bank account by Rs 2,000 and credited revaluation account by Rs 2,000

Option 4: debited revaluation account Rs 2,000 and credited bank account by Rs 2,000

Question : Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3: 2. On 31st March 2018 the firm was dissolved. After the transfer of assets (other than cash in hand and at the bank) and third-party liabilities to the Realization Account, the following information was provided:
Question:
Profit and Loss Account showed a debit balance of Rs. 50,000. The entry will be

Option 1: Adhraj 's capital account debited Rs 30,000, Karan's capital account debited Rs 20,000 credited profit and loss account Rs 50,000

Option 2: Debited profit and loss account with Rs 50,000 credited Adhiraj's capital account by Rs 30,000 a and karan's capital account by Rs 20,000

Option 3: Debited realization account and credited partner's capital account with Rs 50,000

Option 4: None of the above

Question : Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3: 2. On 31st March 2018 the firm was dissolved. After the transfer of assets (other than cash in hand and at the bank) and third-party liabilities to the Realization Account, the following information was provided:
Question:
Adirja's loan amounting to Rs. 35,000 was paid. The entry will be

Option 1: Debited realization account Rs 35,000, credited bank account Rs 35,000

Option 2: Debited partner's loan account and credited bank account with Rs 35,000

Option 3: Debited partner's loan account and credited bank account with Rs 35,000

Option 4: None of the above

Question : Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3: 2. On 31st March 2018 the firm was dissolved. After the transfer of assets (other than cash in hand and at the bank) and third-party liabilities to the Realization Account, the following information was provided:
Question:
A bill receivable of Rs. 3,000 under discount was dishonoured as the acceptor had become insolvent and hence the bill had to be met by the firm. The Journal entry will be

Option 1: Bill receivable account debited and bank account credited Rs 3,000

Option 2: Realisation account debited Rs 3,000 and credited B/R account Rs 3,000

Option 3: Realisation account debited Rs 3,000 and credited bank account Rs 3,000

Option 4: None of the above