[CBSE] Q 46 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 46 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Q. 46. Arun, Tarun and Varun share profits in the ratio of 2 : 2 : 1. On 31.12.2022 their Balance Sheet was as follows:

Liabilities	₹	Assets	₹
Creditors	50,000	Cash	30,000
Bills Payable	30,000	Debtors	50,000
Provident Fund	20,000	Stock	36,000
Investment Fluctuation Fund	8,000	Investments	20,000
Commission Received in Advance	12,000	Plant	90,000
Capitals: Arun Tarun Varun	50,000 60,000 30,000	Profit & Loss A/c	34,000
	2,60,000		2,60,000

On this date the firm was dissolved. Arun was appointed to realise the assets. Arun was to receive 5% commission on the sale of assets (except cash) and was to bear all expenses of realisation.

Arun realised the assets as follows:

Stock ₹ 36,000, Debtors ₹ 45,000, Investments 80% of the book value, Plant ₹ 65,500. Expenses of realisation amounted to ₹ 5,500. Commission received in advance was returned to the customers after deducting ₹ 4,000. Firm had to pay ₹ 8,000 for outstanding wages. This liability was not provided for in the above Balance Sheet. ₹ 20,000 had to be paid for provident fund.

Prepare Realisation Account, Capital Accounts and Cash Account.

[Ans. Loss on Realisation ₹ 37,625; Final Payment Arun ₹ 29,475, Tarun ₹ 31,350 and Varun ₹ 15,675; Total of Cash A/c ₹ 1,92,500.]

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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5	Question – 5
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44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

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