Q. 12 solution of Dissolution of Partnership Firm Chapter TS Grewal Book Class 12 2021-22

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Are you looking for the solution of Question number 12 of the Dissolution of Partnership Firm Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?

Question number 12 of the Dissolution of Partnership Firm chapter is a practical one.

Solution of Question Number 12 of Dissolution of Partnership Firm Chapter of TS Grewal Book 2021-22 Class 12

Question – 12

Q. 12

Aman and Harsh were partners in a firm. They decided to dissolve their firm. Pass necessary Journal entries for the following after assets (other than cash and Bank) and outside liabilities have been transferred to Realisation Account:

a) There was the furniture of ₹50,000. Aman took over 50% of the furniture at 10% discount and the remaining furniture was sold at 30% profit on book value.

b) Profit and Loss Account was showing a credit balance of ₹15,000 on the date of dissolution.

c) Harsh’s loan of ₹6,000 was settled by paying ₹5,500.

d) The firm paid realisation expenses of ₹5,000 on behalf of Harsh, a partner.

e) There was a bill for ₹ 1,200 under discount. The bill was received from Soham who became insolvent and a first and final dividend of 25% was received from his stable.

f) Creditors, to whom the firm owed ₹6,000, accepted stock of ₹5,000 at a discount of 5% and the balance in cash.

Solution:-

Here is the list of solutions

S.NLink to Solution
1.Question – 1
2.Question – 2
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5.Question – 5
6.Question – 6
7.Question – 7
8.Question – 8
9.Question – 9
10.Question – 10
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11.Question – 11
12.Question – 12
13.Question – 13
14.Question – 14
15.Question – 15
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17.Question – 17
18.Question – 18
19.Question – 19
20.Question – 20
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21.Question – 21
22.Question – 22
23.Question – 23
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25.Question – 25
26.Question – 26
27.Question – 27
28.Question – 28
29.Question – 29
30.Question – 30
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31. Question – 31
32. Question – 32
33. Question – 33
34. Question – 34
35. Question – 35
36.Question – 36
37.Question – 37
38.Question – 38
39.Question – 39
40. Question – 40
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Articles: 2015

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