What journal entrieswill be recorded for the following transactions on

1.	What journal entrieswill be recorded for the following transactions on the dissolution ofa firm:[a] Payment ofunrecorded liabilities of Rs 3,200.[b] Stock worth Rs7,500 is taken by a partner Rohit.[c] Profit onRealisation amounting to Rs 18,000 is to be distributed between thepartners Ashish and Tarun in the ratio of 5:7.[d] An unrecorded assetrealised Rs 5,500.
Answer» What journal entries will be recorded for the following transactions on the dissolution of a firm: [a] Payment of unrecorded liabilities of Rs 3,200. [b] Stock worth Rs 7,500 is taken by a partner Rohit. [c] Profit on Realisation amounting to Rs 18,000 is to be distributed between the partners Ashish and Tarun in the ratio of 5:7. [d] An unrecorded asset realised Rs 5,500.

What journal entrieswill be recorded for the following transactions on the dissolution ofa firm:[a] Payment ofunrecorded liabilities of Rs 3,200.[b] Stock worth Rs7,500 is taken by a partner Rohit.[c] Profit onRealisation amounting to Rs 18,000 is to be distributed between thepartners Ashish and Tarun in the ratio of 5:7.[d] An unrecorded assetrealised Rs 5,500.

Answer»

What journal entries
will be recorded for the following transactions on the dissolution of
a firm:

[a] Payment of
unrecorded liabilities of Rs 3,200.

[b] Stock worth Rs
7,500 is taken by a partner Rohit.

[c] Profit on
Realisation amounting to Rs 18,000 is to be distributed between the
partners Ashish and Tarun in the ratio of 5:7.

[d] An unrecorded asset
realised Rs 5,500.

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