Pass necessary Journal entries for the following transactions, at the time of dissolution of the firm Realisation Expenses ₹ 3,000 paid
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Susan, Geeta and Rashi are partners sharing profits and losses in the ratio of 5 : 3 : 2. Their Balance Sheet as at 31st March, 2017, is as under:
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A, B and C shared profits in the ratio of 1 : 2 : 2. Following is their Balance Sheet on the date of dissolution:
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E, F and G were partners in a firm sharing profits in the ratio of 2 : 2 : 1. On March 31, 2017, their firm was dissolved. On the date of dissolution, the Balance Sheet of the firm was as follows:
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A and B shared profits in the ratio of 7 : 3. They dissolved the partnership and appointed A to realise the assets. A is to receive 6% commission on the amount realised from stock, Debtors, B/R and Shares
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X, Y and Z decided to dissolve partnership. The position as at 31st December, 2023, the date of dissolution was as follows:
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A, B and C sharing profits and losses in the ratio of 3 : 2 : 1 agreed to dissolve their partnership firm on 31st March, 2024. A was asked to realise the assets and pay off liabilities
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Arun, Tarun and Varun share profits in the ratio of 2 : 2 : 1. On 31.12.2022 their Balance Sheet was as follows:
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Sanjay and Sameer were partners in a firm sharing profits in the ratio of 2 : 3. On 31.3.2023 their Balance Sheet was as follows:
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The following was the Balance Sheet of Fox and Wolf as at 31st March, 2024, when they decided to dissolve the firm:
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