[CBSE] Q. 51 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2026-27)
Solution of Question number 51 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2026-27).
Charu, Dhwani, Iknoor and Paavni were partners in a firm. They had entered into partnership firm last year only, through a verbal agreement. They contributed Capitals in the firm and to meet other financial requirements, few partners also provided loan to the firm. Within a year, their conflicts
arisen due to certain disagreements and they decided to dissolve the firm. The firm had appointed Ms. Kavya, who is a financial advisor and legal consultant, to carry on the dissolution process. In the first instance, Ms. Kavya had transferred various assets and external liabilities to
Realisation A/c. Due to her busy schedule; Ms. Kavya has delegated this assignment to you, being an intern in her firm. On the date of dissolution, you have observed the following transactions:
(i) Dhwani’s Loan of ₹50,000 to the firm was settled by paying 42,000.
(ii) Paavni’s Loan of ₹40,000 was settled by giving an unrecorded assets of 45,000.
(iii) Loan to Charu of ₹60,000 was settled by payment to Charu’s brother loan of the same amount.
(iv) Iknoor’s Loan of ₹80,000 to the firm and she took over Machinery of 60,000 as part payment.
You are required to pass necessary entries for all the above mentioned
transactions.
Solution:
