Question

The firm of R, K and S was dissolved on 31.3.19. Pass
necessary Journal entries for the following after various assets
and the third party liability had been transferred to Realisation
a/c.
a. K agreed to pay off his wife's loan of Rs. 6000.
b. Total creditors worth Rs. 10000 were given a piece of furniture
costing Rs. 8000 in full and final settlement. Remaining creditors
allowed a discount of 10%.
c. A machine that was not recorded in the books was taken over
by Kat Rs. 3000 where as its expected value was Rs. 5000.
d. The firm had a debit balance of Rs. 15.000 in the profit and
loss a/c on the date of dissolution.
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Answer 1

Answer:

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