[CBSE] Q. 23 Dissolution of Partnership Firm Solution TS Grewal Class 12 2024-25

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Solution to Question number 23 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2024-25 Edition for the CBSE Board.

Ramu, Laxman and Bharat started business on 1st April, 2021 with capitals of ₹ 1,00,000, ₹ 80,000 and ₹ 60,000 respectively sharing profits and losses in the ratio of 4 : 3 : 3. For the year ending 31st March, 2022, the firm incurred loss of ₹ 50,000. Each of the partners withdrew ₹ 10,000 during the year.

On 31st March, 2022 the firm was dissolved. The creditors of the firm stood at ₹ 24,000 on that date and cash in hand was ₹ 4,000. Assets realised ₹ 3,00,000 and creditors were paid ₹ 23,500 in settlement of their claims. Prepare Realisation Account and show your workings clearly.

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Anurag Pathak

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