Question : Realization expenses amounted to Rs. 15,000 were paid by the firm. Mr. X, one of the partners, has to bear these expenses. In this case the account will be credited

Option 1: Realisation a/c

Option 2: Bank account

Option 3: X's capital account

Option 4: None of the above

Question : Realization expenses amounted to Rs.8,000 and were paid by partner X. In this case, the account will be credited :

Option 1: Realisation a/c

Option 2: Bank account

Option 3: X's capital account

Option 4: None of the above.

Question : Realization expenses amounted to Rs.8,000 and were paid by partner X. In this case, the account will be credited :

Option 1: Realisation a/c

Option 2: Bank account

Option 3: X's capital account

Option 4: None of the above.

Question : Realization expenses were to be borne by A for which he is to get a credit of Rs. 10,000. Actual realization expenses paid out of the firm Bank Account amounted to Rs. 12,000. Choose the correct Journal entry for the treatment of realization expenses.

Option 1: Realization account debit Rs 12,000 and credited Bank account Rs 12,000

Option 2: Debited realization account and credited partners capital account with Rs 12,000

Option 3: Debited A's capital account Rs 12,000 and credited bank account Rs 12,000

Option 4: None of these

Question : Jeev, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jeev were Rs. 12,000.These expenses were paid by Jeev by drawing cash from the firm. The entry will be

Option 1: Partners capital account Debited and credited realisation account Rs 12,000

Option 2: Debited partners' capital account and credited bank account with Rs 12,000

Option 3: Realiation account debited with Rs 2000 and credited bank account with Rs 2000

Option 4: none of the above