Give the necessary journal entries for the following transactions in case of dissolution of a partnership firm after various assets (other than cash and bank) and third party liabilities have been transferred to Realisation Account:

(i) Dissolution expenses ₹5,000 were paid by the firm.

(ii) An unrecorded computer not appearing in the books of accounts realised ₹2,200.

(iii) A creditor for ₹1,40,000 accepted building valued at ₹1,80,000 and paid to the firm ₹40,000.

(iv) Loss on realisation ₹10,000 was divided between the partners Subhi and Sudha in the ratio of 4 : 1.

Marks-4, CBSE:2019-20/Compartment/Q-15