Question

(vi) Realisation
pero
ntries are passed in the books of the firm for the following at the time of dissolution:
4. What Journal entries
() When payment is made for an unrecorded liability.
When a partner takes the responsibility to pay an unrecorded liability.
Gin When an unrecorded asset is taken by a partner.
liv) When an unrecorded asset is taken by a creditor.
When an unrecorded asset is taken by a partner and also unrecorded liability is assumed.​

Answer 1

Answer:

1. Realisation a/c dr

To Bank

2. Realisation a/c dr

To partners capital

3. partner capital a/c dr

To realisation

4.No entry will pass when any creditor taken the asset

5.partner capital a/c dr

To realisation