Question

There was an old computer which was written-off in the books of Accounts in the pervious year. The same has been taken over by a partner Nitin for Rs 3,000. Journalise the transaction, supposing. That the firm has been dissolved.

Answer 1

                                       Journal Entries

Particulars	L.F.	Amount (Rs.)	Amount (Rs.)
Nitin’s Capital A/c                Dr.       To Realisation A/c (Unrecorded computer taken over by Nitin)		3,000	3,000