[CBSE] Q. 11 Dissolution of Partnership Firm Solution TS Grewal Class 12 2024-25

Solution to Question number 11 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2024-25 Edition for the CBSE Board.

Simar, Raja and Rita were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. The firm was dissolved on 31st March, 2019. After the transfer of assets (other than cash) and external liabilities to the Reaslisation Account, the following transactions took place:

(a) A debtor whose debt of ₹ 90,000 had been written off as bad, paid ₹ 88,000 in full settlement.

(b) Creditors to whom ₹ 1,21,000 were due to be paid, accepted stock at ₹ 71,000 and the balance was paid to them by a cheque.

(c) Raja had given a loan to the firm of ₹ 18,000. He was paid ₹ 17,000 in full settlement of his loan.

(d) Investments were ₹ 53,000 out of which investments of ₹ 43,000 were taken by Simar at ₹ 52,000 and the balance of the investments were sold for ₹ 12,000.

(e) Expenses on dissolution amounted to ₹ 19,000 and the same were paid by the firm.

(f) Profit on dissolution amounted to ₹ 30,000.

Pass the necessary Journal entries for the above transactions in the books of the firm.

Solution:-

Here is the list of solutions

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
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24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48