Question

If a loan from Ram, a partner, of Rs. 1,50,000 appears on the liabilities side of the Balance Sheet of the firm

and Ram’s Capital Account has a debit balance of Rs. 30,000, what Journal entry will you pass on payment of

such loan on dissolution of firm​

Answer 1

Answer:

Dr.

Cr.

Particulars

Amount

Rs

Particulars

Amount

Rs

Profit transferred to

Profit and Loss

40,000

Ram’s Capital (20,000 – 1,250)

18,750

Raj’s Capital (12,000 – 750)

11,250

George’s Capital (8,000 + 1,250 + 750)

10,000

40,000

40,000

You have to write in box

I hope it's helpful ☺️

Answer 2

Explanation:

fk shit app this is dosnt have proper answers to the questions