At the time of dissolution of a partnership firm, the book value of sundry assets transferred to Realisation Account was Rs. 2,00,000. 50% of these sundry assets were taken by partner A at 20% discount, 40% of remaining assets were sold at a profit of 30% on cost. 5% of the balance was found obsolete and realised nothing. The remaining assets were taken over by a creditor in full settlement of his claim. Pass necessary Journal entries for the above. (C.B.S.E. 2019)



DateParticularsL.FAmount (Dr.)Amount (Cr.)
 Cash / Bank A/c Dr.
A’s Capital A/c    Dr.
   To Realisation A/c
(Assets realised and some assets take by Partner A)


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