Pass necessary Journal entries on the dissolution of a partnership firm in the following cases :
Channel: Doubtnut
Date: 2020-03-29

Pass necessary Journal entries on the dissolution of a partnership firm in the following cases : (i) L , a partner , was appointed to look after the dissolution process for which he was given remuneration of ? 10,000. (ii) Dissolution expenses ? 8,000 were paid by the partner , M . (iii) Dissolution expenses were ? 5,000 . (iv) P , a partner , was appointed to look after the process of dissolution for which he was allowed a remuneration of ? 7,000 . P agreed to bear the dissolution expenses . Actual dissolution expenses of ? 4,000 were paid by P . (v) N , a partner , was appointed to look after the process of dissolution for which he was allowed a remuneration of ? 9,000 . N agreed to bear the dissolution expenses . Actual dissolution expenses ? 4,000 were paid by the firm . (vi) Q a partner , was appointed to look after the process of dissolution for which he was allowed a remuneration of ? 18 , 000 . Q agreed to take over stock worth ? 18 ,000 as his remuneration . The stock had already been transfered to Realisation Account .