[CBSE] Q 25 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 25 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Q. 25. Give Journal entries in each of the following alternative cases on the dissolution of a firm:

(i) Realisation expenses paid by X on behalf of the firm.

(ii) Realisation expenses paid by the firm ₹ 1,000. However, the expenses were to be borne by partner X for which he was to be given a commission of 5% on net cash realised on dissolution. Cash realised from assets was ₹ 2,00,000 and cash paid for liabilities was ₹ 40,000.

(iii) General Reserve appearing in the balance sheet was ₹ 20,000.

(iv) Sundry Creditors amounted to ₹ 15,000. These were paid at a discount of 2%.

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