[ISC] Q. 11 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2022-23)
Are you looking for the solution to Question number 11 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2022-23 Edition for the ISC Board?
Ritvik, Shom and Mohit were in partnership sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2022 was as follows:
Liabilities | ₹ | Assets | ₹ |
Capital A/cs: Ritvik Shom Mohit Reserve Employee’s Provident Fund Provision for Depreciation Creditors | 72,000 51,600 62,400 18,000 18,000 30,000 66,000 | Building Plant Stock Computers Debtors Accrued Commission Cash | 60,000 1,32,000 36,000 37,200 30,000 6,000 16,800 |
3,18,000 | 3,18,000 |
The firm was dissolved on the above date. The terms of the dissolution were:
(i) Ritvik took building at book value and agreed to pay the creditors.
(ii) Accrued Commission was not collected whereas a contingent liability of ₹ 3,600 was paid.
(iii) Other assets realised: Plant ₹ 1,50,000; Stock ₹ 30,000; Debtors ₹ 27,600; Computer ₹ 37,200.
(iv) Realisation Expenses were ₹ 3,600.
(v) A car which was written off from the books was taken by Ritvik for ₹ 24,000. He also agreed to pay Outstanding Salary of ₹ 24,000 which was not provided in the books.
Prepare Realisation Account, Capital Accounts of Partners and Cash Account.
Solution:-
Here is the list of solutions
S.N | Solutions |
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 |
S.N | Solutions |
11 | Question – 11 |
12 | Question – 12 |
13 | Question – 13 |
14 | Question – 14 |
15 | Question – 15 |
16 | Question – 16 |
17 | Question – 17 |
18 | Question – 18 |
19 | Question – 19 |
20 | Question – 20 |
S.N | Solutions |
21 | Question – 21 |
22 | Question – 22 |
23 | Question – 23 |
24 | Question – 24 |
25 | Question – 25 |
26 | Question – 26 |
27 | Question – 27 |
28 | Question – 28 |
29 | Question – 29 |
30 | Question – 30 |
31 | Question – 31 |