[CBSE] Q 1 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 1 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25).

Manoj and Nand were partners sharing profits in the ratio of 3 : 2. Pass journal entries under following situations at the time of dissolution of firm:

(i) Workmen Compensation Reserve stood at ₹ 1,00,000 and there was no liability towards Workmen Compensation.

(ii) Workmen Compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 75,000.

(iii) Workmen Compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 1,20,000.

(iv) Workmen Compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 1,00,000.

Solution:-