[CBSE] Q. 41 Dissolution of Partnership Firm Solution TS Grewal Class 12 (2026-27)
Solution to Question number 41 of the Dissolution of Partnership Firm Chapter of TS Grewal Book (2026-27) Edition for the CBSE Board.
Ramu, Laxman and Bharat started business on 1st April, 2024 with capitals of ₹ 1,00,000, ₹ 80,000 and ₹ 60,000 respectively sharing profits and losses in the ratio of 4 : 3 : 3. For the year ending 31st March, 2025, the firm incurred loss of ₹ 50,000. Each of the partners withdrew ₹ 10,000 during the year.
On 1st April, 2025, the firm was dissolved. Creditors of the firm stood at ₹ 24,000 on that date and cash in hand was ₹ 4,000. Assets realised ₹ 3,00,000 and creditors were paid ₹ 23,500 in settlement of their claims.
Prepare Realisation Account and show your working clearly.
[Ans. Sundry Assets (Balancing Figure) – ₹ 1,80,000; Gain (Profit) on Realisation – ₹ 1,20,500.]
Solution:-
