Dissolution expenses were Rs. 8,000. Out of the said expenses, Rs.3,000 were to be
borne by the firm and remaining by Y. These were paid by X.
Pass journal enteries
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Pass neceisaly Journal. entries on the dissolution of a firm in the fondling cases:
(a) Dharam, a partner, was appointed to Iook after the process of dissolution at a remuneration of Rs. 12,000 and he had to bear the dissolution expenses. Dissolution expenses Rs. 11,000 were paid by Dharam.
(b) 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 Rs. 16,000 were paid by Vijay another partner on behalf of Jay.
(c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of Rs. 7,000. deepa agreed to bear dissolution expenses. Actual dissolution expenses Rs. 6,000 were paid from the firm's bank account.
(d) Dev, a partner, agreed to do the work of dissolution for Rs. 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to realisation Account.
(e) Jeev, a partner, agreed to do the work of dissolution for which he was allowed a commission of Rs. 10,000. He agreed to dissolution expenses. Actual dissolution expenses paid by Jeev were Rs. 12,000. These expenses were paid by Jeev by drawing cash from the firm.
(f) A debtor of Rs. 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of Rs. 7,800 in full Settlement of his account