Ankur, who retire as partner of the firm took firm's car valued at 500000 ( book value ) against his dues. pass journal entry
Dear student,
Here is your answer.
(Being Ankur took over asset of firm)
Regards.
Here is your answer.
| DATE | PARTICULARS | L.F | DEBIT | CREDIT |
| Ankur's Capital A/C Dr | 5,00,000 |
| To Assets A/C | 5,00,000 |
Regards.