Dissolution of Partnership and Realization Account

Kofi and Ama are partners sharing profits and losses in the ratio $3:2$. On the dissolution of their partnership, the book values of the assets transferred to the Realization Account were: Buildings ₦$150,000$, Plant and Machinery ₦$80,000$, Debtors ₦$50,000$, and Stock ₦$30,000$. The assets were realized as follows: Buildings ₦$180,000$, Plant and Machinery ₦$70,000$, Debtors ₦$45,000$, and Stock ₦$25,000$. Dissolution expenses of ₦$6,000$ were paid. What is Kofi's share of the profit on realization in Naira?

Match each transaction occurring during the dissolution of a partnership to its correct accounting entry in the ledger.

Match each transaction occurring during the dissolution of a partnership firm to its correct double-entry ledger accounting treatment.

Tunde and Chidi decided to dissolve their partnership firm. At the date of dissolution, total assets with a book value of $₦120,000$ were transferred to the Realization Account. These assets were realized for $₦135,000$, and dissolution expenses amounting to $₦4,000$ were paid. What is the profit on realization in Naira ($₦$)?

Adebayo and Okon are partners sharing profits and losses in the ratio $3:2$. On the dissolution of their partnership, the book value of non-cash assets transferred to the Realization Account was $₦180,000$, while trade creditors stood at $₦40,000$. The assets realized $₦195,000$, and dissolution expenses of $₦5,000$ were paid. Creditors were settled at a $5\%$ discount. What is Adebayo's share of the profit on realization in Naira ($₦$)?

In accounting for the dissolution of a partnership firm, various transactions must be recorded in the appropriate ledger accounts. Match each dissolution transaction on the left with its correct double-entry accounting treatment on the right.

Match each partnership dissolution transaction on the left to its corresponding double-entry accounting treatment on the right.