Question : Ravi, a partner, is allowed a remuneration of Rs.15,000 for dissolution work and is to bear all expenses of realisation, which amounted to Rs.5,000, which were paid by the firm. In this case, finally, Ravi's capital account will be

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 10,000

Option 3: Debited by Rs 5000

Option 4: Credited by Rs 5000

Question : Ravi, a partner, is allowed a remuneration of Rs.15,000 for dissolution work and is to bear all expenses of realisation, which amounted to Rs.5,000, which were paid by the firm. In this case, finally, Ravi's capital account will be

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 10,000

Option 3: Debited by Rs 5000

Option 4: Credited by Rs 5000

Question : Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of Rs. 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses Rs. 16,000 were paid by Vijay, another partner on behalf of Jay. The entry will be

Option 1: Debited Jay's capital Rs 16,000 and credited Vijay's capital account Rs 16,000

Option 2: Debited realisaton account Rs 15,000 and credited Jay's capital account Rs 15,000

Option 3: Both 1 and 2

Option 4: None of these

Question : Sunil, a partner, is paid a remuneration of Rs.25,000 for dissolution work. Realisation expenses amounted to Rs. 9,000 were paid by him. The realization account will be debited by

Option 1: Rs 25,000

Option 2: Rs 9,000

Option 3: Rs 34,000

Option 4: Rs 16,000