0. What journal entries would be recorded for the following transactions on thedissolution of a firm after various assets (other than cash) on the third partyliabilities 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 discountof 15%.Loss on realisation Rs. 42,000 was to be distributed between Arti and Karimin the ratio of 3:4.5.

0. What journal entries would be recorded for the following transactio

1.	0. What journal entries would be recorded for the following transactions on thedissolution of a firm after various assets (other than cash) on the third partyliabilities 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 discountof 15%.Loss on realisation Rs. 42,000 was to be distributed between Arti and Karimin the ratio of 3:4.5.
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