Land and building (book value) 160000 sold for 300000 through a broker who changed 2% commission on the deal. Journalise the transaction at the time of dissolution of the firm.
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Land and building a/c.. Dr (amount realized)
To realization a/c
For commission -
Realization a/c.. Dr
To,cash/bank(if paid by firm) or
To, partner's capital (if paid by any partner)
To realization a/c
For commission -
Realization a/c.. Dr
To,cash/bank(if paid by firm) or
To, partner's capital (if paid by any partner)
sayeqaSiddiqui:
and amount
i have a doubt.....
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