[CBSE] Q 50 DK Goel Dissolution of a Partnership Firm Solutions Class 12 (2024-25)

Solution of Question number 50 of Dissolution of a Partnership Firm chapter 5 of DK Goel Class 12 CBSE (2024-25)

Q. 50. A and B shared profits in the ratio of 7 : 3. They dissolved the partnership and appointed A to realise the assets. A is to receive 6% commission on the amount realised from stock, Debtors, B/R and Shares.

The position of the firm was as follows:

Liabilities	₹	Assets	₹
Creditors	60,000	Plant and Machinery	20,000
Repairs and Renewals Reserve	4,000	Prepaid Insurance	1,200
Bank Loan	20,000	Stock	60,000
A’s Capital A/c B’s Capital A/c	50,000 20,000	100 Shares in D.C.M Ltd	5,000
		Sundry Debtors	38,000
		B/R	6,000
		Cash at Bank	8,800
		A’s Drawings	5,000
		Advertisement Suspense A/c	10,000
	1,54,000		1,54,000

Information:

1. A realised the assets as follows:- Full amount from Sundry Debtors and B/R except from one for ₹ 2,000 being insolvent. Stock realised ₹ 52,000; Shares in D.C.M were sold for ₹ 60 each.
2. Half the trade creditors accepted plant and machinery at an agreed valuation of 10% less than the book value and cash of ₹ 7,000 in full settlement of their claims.
3. Remaining creditors were paid off at a discount of 10%. Expenses of realisation amounted to ₹ 700.
4. On quarter’s tax amounting to ₹ 1,500 was due and had to be paid.
5. There was a contingent liability amounting to ₹ 13,000. It was settled for ₹ 6,000.
6. Bank Loan was discharged along with interest due for two months @ 18% p.a.

Prepare necessary accounts.

[Ans. Loss on Realisation ₹ 15,000; Amount paid to A ₹ 33,500 and B ₹ 12,500; Total of Bank A/c ₹ 1,08,800.]

Solution:-

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

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

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12	Question – 12
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20	Question – 20

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30	Question – 30

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33	Question – 33
34	Question – 34
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37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

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42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60