[ISC] Q. 7 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2026-27)

Solution to Question number 7 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2026-27 Edition for the ISC Board?

Pass the Journal entries for the following transactions at the time of dissolution:

(i) Realisation expenses of ₹ 5,000 paid by the firm which were to be borne by Aman, a partner.

(ii) Realisation expenses of ₹ 6,000 were paid by Ramesh, a partner.

(iii) Realisation expenses were ₹ 14,000; ₹ 8,000 were to be borne by the firm and the balance by Sanjay, a partner. The expenses were paid by Sanjay.

(iv) Realisation expenses paid by firm were ₹ 30,000. Out of the said expenses, ₹ 22,000 were to be borne by the firm and balance by Sonu, a partner.

(v) Realisation expenses of ₹ 6,000 paid by Rajesh, a partner, who was to bear these expenses.

(vi) Realisation expenses of ₹ 8,000 were paid by Subrato for which he was allowed ₹ 5,000.

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