In settlement of Tarun ’s (a Partner) loan of Rs. 2.5,000 to the firm, a computer not appearing in the hooks is taken over by him at an agreed value of Rs. 30.000. Pass necessary journal entry.


Tarun’ s Loan A /c       Dr.       25,000
Tarun’ s Capital A /c Dr.       5,000
To Realisation A/c                             30,000
(Tarun’ s Loan of Rs. 25,000 settled by giving him unrecorded computer at an agreed value of Rs. 30,000)

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