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ankur who retired as partner of the firm took firm's car valued at 5 lakh book value against his dues. pass journal entry

Dear Student
 
Journal 
Date Particulars   L.F. Debit  Credit
  Ankur's Capital A/c Dr.   500000  
                To Car A/c       500000
  (Being Ankur's due settled by giving car)        


Regards

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Ankur's capital a/c ...Dr 5,00,000
To car a/c 5,00,000
(Being asset given in exchange of money due)
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Pta nhi
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Ankur's capital A/C dr. 5,00,000
To car a/C 5,00,000
( being firm car taken by Ankur)
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