Vasudha and Dewan were partners in a firm sharing profits and losses in the ratio of 2 : 3. The firm was dissolved on 31st March, 2019. After transfer of assets (other than cash) and external liabilities to Realization Account
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Ravi and Mukesh were partners in a firm sharing profit and losses equally. On 31st March, 2019 their firm was dissolved. On the date of dissolution their Balance Sheet showed stock of ₹ 60,000 and Creditors of ₹ 70,000
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P and Q share profits and losses in 5 : 3. What Journal entries would be passed for the following transactions on the dissolution of their firm, after various assets (other than cash) and third party liabilities have been transferred to Realisation Account
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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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