Journalise this one fast v) (b); (vi) (vii)
on the basis
(Delhi 20' 4
rm' on the basis d
(d) Motor car of book value 50.000 taken over by creditors of the book value Of? 40.000 in final settlement.
[Hint: (d) No entry for recorded asset taken over by creditors.]
2. Pass Journal entries for the following:
(a) Realisation expensC", of? 10,000 were paid by Ajay, a partner.
(b) Realisation expenses of? 15,000 were to be met by Rahul, a partner, but were paid by the firm.
(c) Ramesh, a partner, was paid remuneration of 25,000 and he was to meet all expenses.
(d) Anuj, a partner, was paid remuneration of 20,000 and he was to meet all expenses. Firm paid an
expense of 5,000.
3. Pass Journal entries for the following:
