Question

Raghav, Yashank and Abhishek were partners in a firm for the profit sharing ratio

of 2:2:1. Pass the journal entries for the following transactions on the dissolution of

the firm: (attempt any three)

a. Abhishek was paid remuneration of rupees 8,000 including expenses to

carry out the dissolution of the firm. Actual realisation expenses were

rupees 12,000.

b. Yashank is paid remuneration of rupees 7,000 for the dissolution

of the firm. Realisation expenses of rupees 4,500 are paid by

Abhishek.

c. Realisation expense of Rupees 6,500 were to be borne by Abhishek,

however it was paid by Yashank.

d. Realisation expenses of rupees 10,000 were paid by Abhishek. It was

agreed that 30% were to be borne by Raghav and Yashank equally and balanced by Abhishek
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Answer 1

Answer:

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