Question

Pass necessary Journal entries on the dissolution of a firm in the following cases:
(a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of ₹ 12,000 and he had to bear the dissolution expenses. Dissolution expenses ₹ 11,000 were paid by Dharam.
(b) Jay, a partner, was appointed to look after the process of dissolution and was allowed a remuneration of ₹ 15,000. Jay agreed to bear dissolution expenses. Actual dissolution expenses ₹ 16,000 were paid by Vijay, another partner on behalf of Jay.
(c) Deepa, a partner, was to look after the process of dissolution and for this work she was allowed a remuneration of ₹ 7,000. Deepa agreed to bear dissolution expenses. Actual dissolution expenses ₹ 6,000 were paid from the firm's bank account.
(d) Dev, a partner, agreed to do the work of dissolution for ₹ 7,500. He took away stock of the same amount as his commission. The stock had already been transferred to Realisation Account.
(e) Jeev, a partner, agreed to do the work of dissolution for which he was allowed a commission of ₹ 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses paid by Jeev were ₹ 12,000. These expenses were paid by Jeev by drawing cash from the firm.
(f) A debtor of ₹ 8,000 already transferred to Realisation Account agreed to pay the realisation expenses of ₹ 7,800 in full settlement of his account.

Answer 1

Journal

Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
(a)	Realisation A/c	Dr.		12,000
	To Dharam’s Capital A/c				12,000
	(Remuneration paid)
(b)	Realisation A/c	Dr.		15,000
	To Jay's’s Capital A/c				15,000
	(Remuneration paid)
	Jay's Capital A/c	Dr.		16,000
	To Vijay's Capital A/c				16,000
	(Expenses borne by Jay, paid by Vijay)
(c)	Realisation A/c	Dr.		7,000
	To Deepa’s Capital A/c				7,000
	(Remuneration paid)
	Deepa’s Capital A/c	Dr.		6,000
	To Bank A/c				6,000
	(Expenses paid by firm)
(d)	No Entry
(e)	Realisation A/c	Dr.		10,000
	To Jeev's Capital A/c				10,000
	(Remuneration paid)
	Jeev's Capital A/c	Dr.		12,000
	To Bank A/c				12,000
	(Expenses paid by firm)
(f)	No Entry