[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.
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Solution:-
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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 |