Question

S and T are partners as 9:7. On 1.4.2015 their firm dissolved. Pass journal entries
assuming that all assets (except cash) and outside liabilities has been transferred to
realization Aje:
aj Raghav, a creditor of Rs. 2,30,000 accepled debtors of Rs.2,00.000 at discount
of 10% and balance amount is paid by cheque.
b) Expenses on dissolution Rs.5,000 paid by S.
c) T took investments (book value Rs.1,20,000) at 20% less than book value.
Loss on realization Rs 64.000?​

Answer 1

Answer:

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Answer 2

Answer:

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Explanation:

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