18 : Pass necessary journal entries on dissolution of a firm in the following cases:
(a) Dharam, a partner, was appointed to look after the process of dissolution at a remuneration of Rs 12,000. Dissolution expenses were to be borne b the firm. Dissolution expenses Rs 11,000 were paid by Dharam.
(b) Jay, a partner, was appointed to look after dissolution and was to be paid Rs 15,000, including dissolution expenses. Dissolution expenses Rs 16,000 were paid by Vijay, another partner on behalf of Jay.
(c) Deepa, a partner, was to handle dissolution and for this work she was to be paid Rs 7,000, including dissolution expenses. Dissolution expenses Rs 6,000 were paid from the firm’s bank account.
(d) Dev, a partner, agreed to do the work of dissolution for Rs 7,500. He took stock of the same value as his remuneration. The stock had already been transferred to Realisation account.
(e) Jeev, a partner, agreed to do the work of dissolution for which he was allowed Rs 10,000. He agreed to bear the dissolution expenses. Actual dissolution expenses were paid by Jeev were Rs 12,000. These expenses were paid by Jeev by drawing cash from the firm.
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