[CBSE] Q 52 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 52 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Q. 52. A, B and C shared profits in the ratio of 1 : 2 : 2. Following is their Balance Sheet on the date of dissolution:

Liabilities	₹	Assets	₹
Sundry Creditors	2,50,000	Cash at Bank	25,000
Bills Payable	25,000	Debtors 4,00,000 Less: Provision for Doubtful Debts Stock 20,000	3,80,000
Workmen Compensation Reserve	30,000	Stock	20,000
A’s Loan	1,00,000	Machinery	3,00,000
Capital Accounts: A B	3,00,000 5,00,000	Land & Buildings	4,00,000
		Advertisement Suspense Account	30,000
		Capital Account: C	50,000
	12,05,000		12,05,000

Information:-

(i) Land & Buildings were sold at 80% of the book value.

(ii) Stock was given to bills payable in full settlement.

(iii) Sundry Creditors accepted machinery and paid ₹ 10,000 to the firm.

(iv) Debtors were all good.

(v) An unrecorded asset estimated at ₹ 60,000 was taken over by partner B at ₹ 50,000.

(vi) Firm had to pay ₹ 40,000 as Workmen Compensation.

(vii) A’s Loan was settled by giving his an unrecorded asset of ₹ 75,000 at ₹ 60,000 and the balance in cash.

(viii) Partner A is to be paid remuneration of ₹ 20,000 for dissolution work. Realisation expenses of ₹ 15,000 were paid by the firm.

Prepare necessary accounts.

[Ans. Loss on Realisation ₹ 30,000; C brings in ₹ 74,000; Final Payments to A ₹ 3,08,000 and B ₹ 4,26,000; Total of Bank Account ₹ 8,29,000.]

Solution:-

Here are the solutions of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

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2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
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51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
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