[CBSE] Q 49 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)
Solution of Question number 49 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)
Q. 49. X, Y and Z decided to dissolve partnership. The position as at 31st December, 2023, the date of dissolution was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Creditors | 20,000 | Freehold Property | 40,000 |
| Bank Loan | 5,000 | Machinery | 40,000 |
| Capitals: X Y Z | 70,000 40,000 20,000 | Investments | 16,000 |
| Current Accounts: X Y | 12,000 7,500 | Stock | 30,000 |
| Reserve for Contingency | 10,000 | Debtors | 30,000 |
| Commission Received in Advance | 6,000 | Cash | 10,000 |
| Loss in Business | 20,000 | ||
| Current Account: Z | 4,500 | ||
| 1,90,500 | 1,90,500 |
They shared profits in the ratio of X: 1/2, Y: 3/10 and Z: 1/5.
X agreed to bear all realisation expenses. For this service X is paid ₹ 2,000. Actual expenses amounted to ₹ 3,200 which was withdrawn by him from the firm.
Other information are:
(1) Assets, with the exception of investments and Cash, are sold for ₹ 1,25,100. 75% of the investments are taken over by X at 75% of their book value. He also agrees to discharge the Bank Loan. The remaining investments were taken over by Y at the market value of 120%.
(2) There were outstanding expenses amounting to ₹ 5,000. These were settled for ₹ 2,000.
(3) A B/R for ₹ 10,000 was received from a customer Mr. Surender Kumar and the bill was discounted from the bank. Surender became insolvent and 75 paise per ₹ were received from his estate.
(4) Commission received in advance was returned to the customers after deducting 60% for work done.
You are required to prepare the necessary accounts.
[Ans. Loss on Realisation ₹ 20,000; Final Payment to X ₹ 61,800; Y ₹ 33,700 and Z ₹ 9,500; Total of Cash A/c ₹ 1,42,600.]
Solution:-
Here are the solutions of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)
| S.N | Questions | |
| 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 | Questions | |
| 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 |
| S.N | Questions | |
| 21 | Question – 21 | |
| 22 | Question – 22 | |
| 23 | Question – 23 | |
| 24 | Question – 24 | |
| 25 | Question – 25 | |
| 26 | Question – 26 | |
| 27 | Question – 27 | |
| 28 | Question – 28 | |
| 29 | Question – 29 | |
| 30 | Question – 30 |
| S.N | Questions | |
| 31 | Question – 31 | |
| 32 | Question – 32 | |
| 33 | Question – 33 | |
| 34 | Question – 34 | |
| 35 | Question – 35 | |
| 36 | Question – 36 | |
| 37 | Question – 37 | |
| 38 | Question – 38 | |
| 39 | Question – 39 | |
| 40 | Question – 40 |
