On dissolution of a firm, there was an Unrecorded asset or Rs. 2,000 which was taken over by a partner at Rs. 2,500 What entry will be passed? Post category:Accountancy Reading time:1 mins read SOLUTION Partner’s Capital A/c Dr. 2,500 To Realisation A/c 2,500 Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostOn dissolution of a firm, Sundry Creditors amounted to Rs. 8,000. These were paid at a discount of 5%. What entry will he passed? Next PostOn the basis of following data, how much final payment to a partner on firm’s dissolution will be made? Debit balance of Capital Account Rs. 14,000; Share of his profit on realisation Rs. 43,000; Firm’s asset taken over by him for Rs. 17,000. You Might Also Like What is meant by Sacrificing Partners? September 26, 2022 X and Y are partners sharing profits in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet showed General Reserve of Rs. 60,000. It was decided that in future they will share profits and losses in the ratio of 3 : 2. Pass necessary Journal entry in each of the following alternative cases: (i) When General Reserve is not to be shown in the new Balance Sheet. (ii) When General Reserve is to be shown in the new Balance Sheet. July 27, 2022 How does the factor ‘Location’ affect the goodwill of a firm? September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X and Y are partners sharing profits in the ratio of 2 : 1. On 31st March, 2019, their Balance Sheet showed General Reserve of Rs. 60,000. It was decided that in future they will share profits and losses in the ratio of 3 : 2. Pass necessary Journal entry in each of the following alternative cases: (i) When General Reserve is not to be shown in the new Balance Sheet. (ii) When General Reserve is to be shown in the new Balance Sheet. July 27, 2022
