Question

6. Pass journal entries for the following
transactions of firm in the case of firm's
dissolution
1 . Income tax liability is now payable
* 15,000 it is not recorded in the book,
2. A partner has accepted to pay loan of his Smt. 3 20,000, which was given to
the firm.
3. Machine is disclosed in the book at the time of dissolution for { 1,00.000,
Book value is realized,
4 . The value of laptop is 335.000. One partner
has taken it for : 25,000.
​

Answer 1

1. Realisation a/c. dr. 15000

To bank a/c. 15000

2. Realisation a/c. dr. 320000

To partner capital a/c. 320000

3. Bank a/c. dr. 100000

To Realisation a/ c. 100000

4. partner capital a/c dr. 25000

To Realisation a/c. 25000

Answer 2

Answer:

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Explanation: