[CBSE] Q. 15 Solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2023-24)
Are you looking for the solution to Question number 15 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the CBSE Board?
Suman and Rajan were partners in a firm sharing profits and losses in the ratio of 3 : 1. The firm was dissolved on 31st March 2019. Pass the necessary Journal entries for the following transactions after various assets (other than cash in hand and a bank) and third-party liabilities have been transferred to Realisation Account.
(a) Dissolution expenses ₹ 10,000 were paid by the firm.
(b) Rajan had given a loan of ₹ 60,000 to the firm for which he accepted ₹ 58,000 in full settlement.
(c) The firm had a debit balance of ₹ 40,000 in the Profit & Loss Account on the date of dissolution.
(d) Profit on realisation was ₹ 12,000.
Solution:-
Here is the list of solutions
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