[ISC] Q. 9 Death of Partner Solution TS Grewal Class 12 (2022-23)
Are you looking for the solution to Question number 9 of the Death of Partner Chapter of TS Grewal Book ISC Board 2022-23 Edition?
Avijit, Bikas and Bharat were partners sharing profits and losses equally. Their Balance Sheet as at 31st March, 2022 is given below:
Liabilities | ₹ | Assets | ₹ | |
Capital A/cs: Avijit Bikas Bharat General Reserve Creditors | 50,000 50,000 50,000 15,000 500 | Machinery Furniture Bills Receivable Stock Debtors Less: PDD Cash at Bank | 45,000 3,000 | 50,000 28,000 21,000 9,500 42,000 15,000 |
1,65,500 |
Bharat died on 1st April, 2022 and the following agreement was to be put into effect:
(i) Assets were to be revalued: Machinery to ₹ 56,500; Furniture to ₹ 25,000; Stock to ₹ 7,500.
(ii) Goodwill of the firm was to be valued at two year’s pruchase of average profit for the last three years which was ₹ 22,500.
(iii) ₹ 10,000 were to be paid to the executor of the deceased partner on 1st April, 2022.
You are required to prepare:
(a) Revaluation Account, (b) Capital Accounts of the partners, and (c) Balance Sheet of the new firm.
Solution:-
Here is the list of Solutions
S.N | Solutions |
1 | Question – 1 |
2 | Question – 2 |
3 | Question – 3 |
4 | Question – 4 |
5 | Question – 5 |
6 | Question – 6 |
7 | Question – 7 |
8 | Question – 8 |
9 | Question – 9 |
10 | Question – 10 |
S.N | Solutions |
11 | Question – 11 |
12 | Question – 12 |
13 | Question – 13 |
14 | Question – 14 |
15 | Question – 15 |
16 | Question – 16 |
17 | Question – 17 |
18 | Question – 18 |
19 | Question – 19 |
20 | Question – 20 |
21 | Question – 21 |
22 | Question – 22 |