[ISC] Q. 20 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2022-23)
Are you looking for the solution to Question number 20 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2022-23 Edition for the ISC Board?
Basu, Bose and Chitra are partners sharing profits in the ratio of 5 : 3 : 2. Their Balance Sheet as at 31st March, 2022 was as under:
| Liabilities | ₹ | Assets | ₹ |
| Trade Creditors Workmen Compensation Reserve Employees’ Provident Fund Loan from Mrs. Basu Basu’s Capital Bose’s Capital Chitra’s Capital Basu’s Current A/c Bose’s Current A/c Profit and Loss A/c | 60,000 10,000 5,000 5,000 2,00,000 1,50,000 1,50,000 25,00 17,000 50,000 | Bank Debtors Stock Furniture Patents Building Chitra’s Current A/c | 70,000 50,000 60,000 1,25,000 35,000 3,20,000 12,000 |
| 6,72,000 | 6,72,000 |
The firm was dissolved on the above mentioned date.
Following transactions took place at the time of dissolution:
(i) Realisation Expenses were to be borne by Basu for which he was to get ₹ 10,000. Realisation Expenses of ₹ 12,000 were paid out of firm’s Bank Account.
(ii) Bose took stock for ₹ 55,000 and Chitra took Building for ₹ 4,00,000.
(iii) Other assets realised as follows: Debtors ₹ 48,000; Furniture ₹ 97,000.
(iv) Trade Creditors were settled by paying ₹ 55,000.
(v) Accounts of partners were settled after realising assets and paying outside liabilities.
Prepare Realisation Account, Partner’s Current Accounts, Partner’s Capital Accounts and Bank 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 |
