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 : 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 : Sudhir, a partner, was allowed a remuneration of Rs. 10,000 to carry out dissolution of the firm. He was to bear all expenses of realisation which amounted to Rs. 16,000 were paid by the firm. In this case partner's capital account will be debited by ------------

Option 1: Rs 10,000

Option 2: Rs 16,000

Option 3: Rs 6,000

Option 4: Rs 26,000

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 : 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