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. 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. 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 of Rs. 5,000 were to be borne by Pavit, a partner. However, it was paid by Hitesh, another partner. It was to be recorded in the books. The entry will be

Option 1: Debited realisation account Rs 5,000, credited Pavit's capital account Rs 5,000

Option 2: Debited realisation account Rs 5,000, credited Bank account Rs 5,000

Option 3: Debited realisation account Rs 5,000 and credited Hitesh's capital account Rs 5,000

Option 4: Debited Pavit's capital account and credited Hitesh's capital account Rs 5,000

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