Practicing Success
Meena and Tina are partners in a firm and share profit as 3:2. They decided to dissolve their firm on March 31, 2017, when their Balance Sheet was as follows: Balance Sheet Meena and Tina as of March 31,2017
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State Journal entry for realisation of investment. |
Tina's capital A/c Dr. ₹50,000 Tina's Capital A/c Dr. ₹30,000 Realisation A/c Dr. ₹50,000 Realisation A/c Dr. ₹50,000 |
Tina's capital A/c Dr. ₹50,000 |
For an asset taken over by a partner the journal entry is- |