[CBSE] Q 4 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 4 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

The following is the Balance Sheet of A and B as at 31st March, 2023. The profit sharing ratios of the partners are 3 : 2.

Liabilities	₹	Assets	₹
Creditors	97,500	Land & Buildings	30,000
Capital Accounts: A B	85,000 63,000	Motor Vehicles	18,300
		Stock	72,800
		Debtors 1,13,200 Less: Provision for Bad Debts 2,450	1,10,750
		Cash at Bank	13,650
	2,45,500		2,45,500

The partners decided to dissolve the firm on and from the date of the Balance Sheet. Motor Vehicles and Stock were sold for cash at ₹ 16,950 and ₹ 77,600 respectively and all Debtors were realised in full. Land & Buildings were sold at ₹ 43,500. Creditors were paid off subject to discount of ₹ 1,700. Expenses of realisation were ₹ 1,250.

Prepare Realisation Account, Bank Account and Partner’s Capital Accounts to close the books of the firm as a result of its dissolution.

[Ans. Gain on Realisation ₹ 19,850; Amount paid to A ₹ 96,910 and B ₹ 70,940; Total of Bank A/c ₹ 2,64,900.]

Here are the solutions of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

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