[Dk Goyal] Q 1 Dissolution of Partnership Firm Solutions CBSE (2022-23)

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Question number 1 Solutions of Dissolutions of Partnership Firm DK Goyal class 12 CBSE 2022-23

Question – 1

Manoj and Nand were partners sharing profits in the ratio of 3:2. Pass Journal entries under the following situations at the time of dissolution of the firm:

i) Workmen Compensation Reserve stood at ₹ 1,00,000 and there was no liaility towards Workmen Compensation.

ii) Workmen Compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 1,20,000.

iii) Workmen Compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 1,20,000.

iv) Workmen compensation Reserve stood at ₹ 1,00,000 and liability in respect of it was ascertained at ₹ 1,00,000.

Solution:-