[ISC] Q. 11 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2023-24)
Solution to Question number 11 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the ISC Board?
Arman, Naresh and Atil are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They dissolved the firm on 31st March, 2023. Following is the Balance Sheet on the date of dissolution:
| Liabilities | ₹ | Assets | ₹ |
| Capital A/cs: Arman Naresh Atil Bank Loan (including interest of ₹ 3,000) Sundry Creditors | 1,80,000 1,20,000 60,000 60,000 1,20,000 | Goodwill Machinery Furniture Stock Debtors Cash | 60,000 2,50,000 30,000 1,00,000 60,000 40,000 |
| 5,40,000 | 5,40,000 |
Following assets were realised in cash: Machinery at ₹ 2,20,000; 50% of the Stock at 30% less than the book value and Debtors were collected at 15% less than their book value. Remaining 50% of the Stock was taken by Arman at ₹ 32,000. Furniture was taken by Naresh at 20% less than the book value. Goodwill could not be realised.
Realisation Expenses were ₹ 3,000, which were paid by Arman.
Prepare Realisation Account, Partner’s Capital Accounts and Cash Account.
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 |
