[ISC] Q. 2 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2023-24)

Solution to Question number 2 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the ISC Board?

Pass Journal entries for the following at the time of dissolution:

(i) When payment is made for an unrecorded liability.

(ii) When a partner undertakes to pay an unrecorded liability.

(iii) When an unrecorded asset is taken by a partner.

(iv) When an unrecorded asset is taken by a creditor.

(v) When an unrecorded asset is taken by a partner and also unrecorded liability is assumed.

Solution:-

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