Question : Q, a partner, was appointed to look after the process of dissolution for which he was
allowed a remuneration of Rs. 18,000. Q agreed to take over stock worth Rs. 18,000 as his remuneration. The stock had already been transferred to the Realisation Account. The entry will be

Option 1: Debited realization account Rs 18,000 and credited Q's capital account Rs 18,000

Option 2: Debited realization account Rs 18,000 and credited bank account Rs 18,000

Option 3: No entry required

Option 4: Debited bank account Rs 18,000 and credited partner's capital account Rs 18,000

Question : Mohan and Kanwar are partners in a firm. Their firm was dissolved on 1.1.2013. Mohan was assigned the work of dissolution. For this work Mohan was to be paid Rs.500. Mohan paid dissolution expenses of Rs.400 from his own pocket. Choose the correct Journal entry

Option 1: Debited realization account by Rs 400 and credited bank account Rs 400

Option 2: Debited realization account by Rs 900 and credited mohan's capital account Rs 900

Option 3: Debited realization account Rs 500 credited Moahn's capital acccout Rs 400 and bank account Rs 100

Option 4: None of the above

Question : Vijay, a partner, paid realization expenses of Rs. 10,000 and these were to be borne by him. Vijay's capital account will be

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 10,000

Option 3: Debited by Rs 1000

Option 4: None of the above.

Question : Vijay, a partner, paid realization expenses of Rs. 10,000 and these were to be borne by him. Vijay's capital account will be

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 10,000

Option 3: Debited by Rs 1000

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:
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