[ISC] Q. 10 Dissolution of Partnership Firm Solution TS Grewal Class 12 (2024-25)
Solution to Question number 10 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2024-25 Edition for the ISC Board.
Amrit, Nikhil and Anuj are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decided to dissolve their firm on 31st March, 2023, when their Balance Sheet was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Capital A/cs: Amrit Nihil Anuj Sundry Creditors Profit and Loss A/c | 17,500 10,000 2,000 1,500 | Freehold Property Investments Sundry Debtors Stock Bank Cash | 16,000 4,000 2,000 3,000 2,000 4,000 |
| 31,000 | 31,000 |
Assets realised in cash were: Machinery ₹2,20,000 and Debtors were collected at 15% less than their book value. 50% of the stock being obsolete was taken by Amrit for ₹ 17,000. Furniture was taken by Nihil at 20% less than the book value.
Realisation Expenses were ₹ 3,000, Which were paid by Amrit.
Prepare Realisation Account, Partner’s Capital Accounts and Cash Account.
Solution:-
