Dissolution of ...

A and B share profits and losses in the ratio of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realisation A/c. It is found that an unrecorded Computer was realized ₹7,000. How would you record it?

A and B share profits and losses in the ration of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realisation A/c. An unrecorded Stock worth ` 1,600 was taken over by B at ` 1,200. What should be journal entry?

Manik and Naman share the profits equally. They decided to dissolve their firm. Their liabilities were: Manik’s Capital ₹25,000; Naman’s Capital ₹30,000; Creditors ₹12,500; Bills payable ₹7,500; Assets of the firm realized ₹1, 00,000. Balance of cash/bank was nil in balance sheet. Find out profit on realisation.

Nilay and Poppy were partners sharing profits equally. Their firm was dissolved. Nilay agreed to take over 50% of the stock at 10% less on its book value and the remaining stock was sold at a gain of 15%. Balance sheet show stock amounted ` 35000. By what amount Bank A/c (stockrealised) should be shown on credit side of realization account?

Following is the Balance sheet of K and S who share profits and losses equally as on 31st march 2010. The firm was dissolved .Debtors realized ` 31,500 (with interest) and ` 1200 was recovered for bad debts written off last year. Balance sheet shows debtors amounted ` 25000 By what amount Bank A/c (Debtors realised) should be shown on credit side of the realization account?