[ISC] Q. 9 Dissolution of Partnership Firm Solution TS Grewal Book Class 12 (2023-24)

Solution to Question number 9 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2023-24 Edition for the ISC Board?

Neha, Anita and Sonia were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2022, their Balance Sheet was as follows:

Liabilities	₹	Assets		₹
Capital A/cs: Neha Anita Sonia Reserve Creditors	30,000 24,000 12,000 15,000 24,000	Cash at Bank Debtors Less: PDD Stock Furniture Building Advertisement Suspense	16,000 4,00	24,400 15,600 12,000 4,000 44,000 5,000
	1,05,000			1,05,000

The firm was dissolved on that date. The assets realised were as follows:

Debtors	₹ 14,000
Stock	₹ 10,000
Furniture	₹ 2,000
Building	₹ 50,000

Creditors were settled for ₹ 22,000. It was noticed that a liability of ₹ 6,000 for damages existed which had to be paid. Realisation Expenses amounted to ₹ 2,000.

Prepare Realisation Account, Partner’s Capital Account and Bank Account 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

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