Question

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

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
(i)	Realisation A/c	Dr.		12,000
	To Dharam’s Capital A/c				12,000
	(Remuneration paid)
(ii)	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)
(iii)	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)
(iv)	Realisation A/c	Dr.		7,500
	To Dev’s Capital A/c				7,500
	(Remuneration paid)
(v)	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)
(vi)	No Entry