Sarthak paid the realisation expenses of Rs.16000 out of his private funds, who was to get a remuneration of Rs.15000 for completing dissolution process and was responsible to bear all the realisation expenses.
The journal entry given for this question in Dr.Realisation A/c and Cr. Sarthak's capital A/c by Rs.15000
Can you please explain clearly as to why we are considering 15000 and not 16000?
(ii) B Ltd issued 5,000, 7% debentures of Rs.100 each as collateral security to the bank who has advanced a loan of Rs.4,00,000 to the company for a period of 6 years.
(iii) C Ltd issued 5,000, debentures of Rs.100 each to a creditor for 4,80,000 in satisfaction of his claim.
Pass the journal entries for the above cases.
Sarthak paid the realisation expenses of Rs.16000 out of his private funds, who was to get a remuneration of Rs.15000 for completing dissolution process and was responsible to bear all the realisation expenses.
The journal entry given for this question in Dr.Realisation A/c and Cr. Sarthak's capital A/c by Rs.15000
Can you please explain clearly as to why we are considering 15000 and not 16000?
Please no links thanks.