[ISC] Q. 3 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2023-24)
Solution to Question number 3 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the ISC Board?
What Journal entries would be passed in the books of Raja and Nawab sharing profits and losses in the ratio of 5 : 2, for the following transactions on the dissolution of a firm, after various assets (other than cash) and third party liabilities have been transferred to Realisation Account?
(i) Bank Loan ₹ 25,000 is paid.
(ii) Stock of ₹ 10,000 is taken by partner Raja.
(iii) Expenses on dissolution of ₹ 5,000 were paid by Nawab.
(iv) A typewriter written off in the books of account was sold for ₹ 500.
(v) Loss on Realisation ₹ 14,000.
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 |
