[ISC] Q. 2 Dissolution of Partnership Firm Solution TS Grewal Class 12 (2024-25)

Solution to Question number 2 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2024-25 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:-