[ISC] Q. 31 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 (2022-23)
Are you looking for the solution to Question number 31 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2022-23 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:-
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 |
