[CBSE] Q 10 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 10 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Q. 10. P, Q and R were partners in a firm sharing profits in the ratio of 1 : 2 : 2. Their Balance Sheet as at 31st March 2024 was as follows:

Liabilities	₹	Assets	₹
Creditors	1,20,000	Land and Building	5,00,000
Outstanding Expenses	10,000	Office Equipment	30,000
Bank Overdraft	20,000	Stock	3,50,000
Q’s Loan	50,000	Investments	50,000
Capitals: P Q R	2,00,000 4,00,000 4,00,000	Debtors 2,00,000 Less: Provision for doubtful Debts 8,000	1,92,000
		Computer Software	20,000
		Prepaid Expenses	51,000
		Cash at Bank	7,000
	12,00,000		12,00,000

On the above date the firm was dissolved. You are given the following information:

(i) Office Equipment was accepted by a Creditors of ₹ 25,000 in full settlement.

(ii) Q’s Loan was paid alongwith unrecorded interest of ₹ 6,000.

(iii) Land and Building were realised at ₹ 6,00,000; Stock at 80% and debtors at 90%.

Prepare Realisation Account.

[Ans. Loss on Realisation ₹ 20,000.]

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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10	Question – 10

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