[CBSE] Q. 8 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2023-24)
Are you looking for the solution to Question number 8 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the CBSE Board?
Pass, Journal entries for the following at the time of dissolution of the firm of X and Y after the various assets (other than cash) and outside liabilities have been transferred to Realisation Account:
(a) Sale of Assets – ₹ 50,000.
(b) Payment of Liabilities – ₹ 10,000.
(c) A commission of 5% allowed to X, a partner, on sale of assets.
(d) Realisation expenses were ₹ 15,000. The firm had agreed with Amrit, to reimburse him ₹ 10,000.
(e) Employees Provident Fund ₹ 10,000.
(f) Z, a debtor, whose account of ₹ 6,000 was written off as bad earlier, paid 60% of the amount.
(g) Investment (Book Value ₹ 10,000) realised at 150%.
(h) Realisation expenses were ₹ 10,000. The firm had agreed with Krishan, a partner, to reimburse him up to ₹ 7,500.
Solution:-
Here is the list of solutions
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