In a partnership the double entry to record realisation expenses paid is as follows:

Name: In a partnership the double entry to record realisation expenses paid is as follows:
Brand: Quizplus
Rating: 4.7 (54 reviews)

Question

Quizplus · Accepted Answer

The correct entry to record realisation expenses paid is to debit the Realisation account and credit the Bank account. This reflects the expense incurred during the dissolution process being recorded as a decrease in assets (Bank) and an increase in the expenses related to the dissolution (Realisation account).

In a Partnership the Double Entry to Record Realisation Expenses