Question

Pass necessary journal entries on the dissolution of a firm in the following cases :  (6)

(i) Dissolution expenses were Rs 700.
 
(ii) Dissolution expenses Rs 1,100 were paid by partner 'A'.

(iii) Partner 'B' agreed to do the work of dissolution for a commission of Rs 2,000. He also agreed to bear the dissolution expenses. Actual dissolution expenses Rs 2,100 were paid by B.

(iv) Partner 'C' was appointed to look after the dissolution work for a remuneration of Rs 10,000. He also agreed to bear the dissolution expenses. Actual dissolution expenses Rs 9,800 were paid from the firm's bank account.

(v) Partner 'D' was appointed to look after the dissolution work for a remuneration of Rs 15,000. He also agreed to bear the dissolution expenses. Actual dissolution expenses Rs 13,000 were paid by partner 'E' on behalf of partner 'D'.

(vi) Partner 'F' was appointed to look after the process of dissolution for a remuneration of Rs 9,000. He also agreed to pay the dissolution expenses. 'F' took away furniture of Rs 9,000 as his remuneration. Furniture had already been transferred to realisation account.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
(i)	Realisation A/c	Dr.		700
	To Bank A/c				700
	(Expenses borne and paid by firm)
(ii)	Realisation A/c	Dr.		1,100
	To A's Capital A/c				1,100
	(Expenses paid by partner on behalf of firm)
(iii)	Realisation A/c	Dr.		2,000
	To B’s Capital A/c				2,000
	(Remuneration paid)
(iv)	Realisation A/c	Dr.		10,000
	To C's Capital A/c				10,000
	(Remuneration paid)
(iv)	C's Capital A/c	Dr.		9,800
	To Bank A/c				9,800
	(Expenses borne by partner, paid by firm)
(v)	Realisation A/c	Dr.		8,000
	To D's Capital A/c				8,000
	(Remuneration paid)
(v)	D's Capital A/c	Dr.		13,000
	To E's Capital A/c				13,000
	(Expenses paid by one partner, borne by other)
(vi)	No Entry