Question

(v) There was one unrecorded asset estimated at 6,000, half of which was handed over to an
unrecorded liability of * 10,000 in settlement of claim of 5,000 and remaining half was sold
in the market which realised * 2,600.​

Answer 1

Answer:

unrecorded asset of ₹6,000

half of this 3,000 ( 6,000×1/2) given to creditors

no entry for this

when liabilities taking over asset we won't record in dissolution

remaining half 3,000 was realised at 2,600 for this

bank a/c dr 2,600

to realisation a/c 2,600

show credit side in realisation a/c under bank and in bank a/c debit side.