Pass Journal entries for following transactions on the dissolution of a firm of partners A and B , after various assets (other than cash ) and outside liabilities have been transferred to Realisation Account ?
(i) 'A' took `50%` of the stock at a discount of 20 % . Remaining stock was sold at a profit of `30%` on cost . (Book value of stock given in the Balance sheet before dissolution was ₹ 4,00,000 ).
(ii) Debtors ₹ 2, 64 , 000 . Provision for Doubtful Debts : ₹ 24, 000 , ₹ 48 , 000 of the book debts proved bad .
(iii) Building (Book value ₹ 5,00,000) sold for ₹ 8,00,000 through a broker who charged 2 % commission.
(iv) Machinery (Book value ₹ 6,00,000) was given to a creditor at a discount of 20%
(v) Investments (Book value ₹ 40 , 000) realised at 150 %.