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What journal entries will be made …

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What journal entries will be made for the following transaction on the dissolution of a firm a) payment of unrecorded liabilities 3,200 b) stock worth ₹7500 is taken by a partner Rohit c) profit on realisation accounting to 18,000 is to be distributed between partners Ashish and Tarun is the ratio of 5:7 d) an unrecorded asset realized ₹5500

Posted by Tanya Rani 6 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Ankit Arya 6 years, 4 months ago

a) Realisation a/c dr. 3200 To bank/cash a/c 3200 b) Rohit capital a/c dr. 7500 To Realisation a/c 7500 c) Realisation a/c dr. 18000 To ashish capital a/c 7500 To tarun capital a/c 10500 D) Bank/Cash a/c dr. 5500 To realisation a/c 5500

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