Pass necessary journal entries to record the following unrecorded assets and liabilities in the books of Paras and Priya:
(a) There was an old furniture in the firm which had been written *** completely in the books. This was sold for Rs. 3,000.
(b) Ashish, an old customer whose account for Rs. 1,000 was written *** as bad in the previous year paid 60% of the amount.
(c) Paras agreed to takeover the firm’* goodwill (not recorded in the books of the firm) at a valuation of Rs. 30,000.
(d) There was an old typewriter which had been written *** completely from the books. It was estimated to realise Rs. 400. It was taken by Priya at an estimated price less 25%.
(e) There were 100 shares of Rs. 10 each in Star Limited acquired at a cost of Rs. 2,000 which had been written-*** completely from the books. These shares are valued @ Rs. 6 each and divided among the partners in their profit-sharing ratio.
