[CBSE] Q 14 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 14 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Raman and Richa were partners in a firm sharing profits in the ratio of 7 : 3. On 31.3.2024 the Balance Sheet of the firm was as follows:

Balance Sheet of Raman and Richa as at 31.3 2024

Liabilities	₹	Assets	₹
Capitals: Raman Richa	7,00,000 3,00,000	Land and Building	7,50,000
Sundry Creditors	1,75,000	Furniture	1,20,000
		Debtors	1,32,000
		Stock	1,03,000
		Cash	70,000
	11,75,000		11,75,000

The firm was dissolved on 1.4.2024 and the assets and liabilities were settled as follows:

(i) Land and building was taken over by Raman at a depreciation of 10% for cash;

(ii) Creditors of ₹ 1,25,000 took over stock and debtors in full settlement of their claim:

(iii) Remaining creditors were paid by Richa;

(iv) Furniture realised ₹ 5,000 less than the book value.

(v) Expenses of realisation were ₹ 400.

Prepare Realisation Account in the books of the firm.

[Ans. Loss on Realisation ₹ 1,90,400.]

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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