What journal entries would be recorded for the following transactions on the dissolution of a firm after various assets (other than cash) on the third party liabilities have been transferred to Reliasation account.
1. Arti took over the Stock worth Rs. 80,000 at Rs. 68,000.
2. There was unrecorded Bike of Rs. 40,000 which was taken over By Mr. Karim.
3. The firm paid Rs. 40,000 as compensation to employees.
4. Sundry creditors amounting to Rs. 36,000 were settled at a discount of 15%.
5. Loss on realisation Rs. 42,000 was to be distributed between Arti and Karim in the ratio of 3:4.

Pass necessary Journal entries for the following transactions on the dissolution of the firm of P and Q after the various assets (other than cash ) and outside liabilities have been transferred to Realisation Account : (a) Bank Loan ₹ 12,000 was paid . (b) Stock worth ₹ 16,000 was taken over by partner Q . (c) Partner P paid a creditor ₹ 4,000 . (d) An asset not appearing in the books of accounts realised ₹ 1,200 . (e) Expenses of realisation of ₹ 2,000 were paid by partner Q . (f) Profit on realisation ₹ 36,000 was distributed between P and Q in 5 : 4 ratio .

The firm of R, K and S was dissolved on 31.3.2019. Pass necessary journal entries for the following after various assets (other than cash and Bank) and the third party liabilities had been transferred to realisation account. (i) K agreed to pay off his wife’s loan of ₹ 6,000. (ii) Total Creditors of the firm were ₹ 40,000. Creditors worth ₹10,000 were given a piece of furniture costing ₹8,000 in full and final settlement. Remaining creditors allowed a discount of 10%. (iii) A machine that was not recorded in the books was taken over by K at ₹ 3,000 whereas its expected value was ₹ 5,000. (iv) The firm had a debit balance of ₹ 15,000 in the profit and loss A/c on the date of dissolution.

X , Y and Z are partners in a firm sharing profits in the ratio of 3 : 2 : 1 respectively . The firm was dissolved on 1st March , 2013 . After transferring assets (other than cash ) and third party liabilities to the Realisation Account you are provided with the following information : (a) There was a balance of ₹ 18,000 in the firm's Profit and Loss Account . (b) There was an unrecorded bike of ₹ 50,000 which was taken over by X . (c) Creditors of ₹ 5,000 were paid ₹ 4,000 in full settlement of accounts . Pass necessary Journal entries for the above at the time of dissolution of firm .