[ISC] Q. 31 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2023-24)
Solution to Question number 31 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the ISC Board?
Patil, Raman and Deep commenced business on 1st April, 2021 with capitals of Patil – ₹ 1,50,000; Raman – ₹ 1,00,000; Deep – ₹ 50,000. Profits are shared in the ratio of 4 : 3 : 3. Capitals carried interest @ 5% p.a. During the year, the firm incurred a loss of ₹ 85,000 before allowing interest on capital. Drawings of each partner during the year were ₹ 10,000.
On 31st March, 2022, the partners decided to dissolve the firm as it was no longer profitable. The creditors on that date were ₹ 25,000. The Assets realised a net value of ₹ 2,00,000 and the Expenses of Realisation were ₹ 3,000.
Prepare Realisation Account, Partner’s Capital Accounts and Cash Account along with necessary workings to close the books of the firm.
Solution:-
Working Notes:-
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 |