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Question
Pawan, a partner, was appointed to look after the process of dissolution of firm for which he was allowed a remuneration of ₹ 75,000. Pawan agreed to bear the dissolution expenses. Actual dissolution expenses ₹ 60,000 were paid by Pawan. Pawan's Capital Account will be credited by:
Options
₹ 75,000
₹ 60,000
₹ 15,000
₹ 10,000
MCQ
Solution
₹ 75,000
Explanation:
| Journal Entry | ||
| Realization A/c ...Dr. | 75,000 | |
| To Pawan's Capital A/c | 75,000 | |
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