CBSE 2025 · Region 7 · Set 1 · Q8

Sandhya and Suman were partners in a firm sharing profits and losses in the ratio of $\displaystyle 3$ : 5. They decided to dissolve the firm on 31st March, 2024. On the date of dissolution, the Balance Sheet of the firm showed a balance of ₹ $\displaystyle 80,000$ in sundry debtors and a balance of ₹ $\displaystyle 5,000$ in provision for bad debts account. How much amount will be transferred to Realisation Account to close Sundry Debtors Account ?

OR

Dev, Bhudev and Shamdev were partners in a firm sharing profits equally. On 31st March, $\displaystyle 2024$, their firm was dissolved. On this date the bank account showed a credit balance of $\displaystyle 10,000$ and there was a debit balance of $\displaystyle 15,000$ in the cash account. All payments were settled by cheque. Ravi, a creditor of ₹ $\displaystyle 2,000$ was not having any bank account, therefore he was paid in cash. Afterwards the cash account was closed by depositing the balance of cash into the bank. The journal entry for closing cash account will be :