#11, Dissolution of a Partner Class 12 | T.S Grewal Solutions | Gaurav Jain
Question: 11 Simar, Raja and Rita were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. The firm was dissolved on 31st March, 2019. After the transfer of assets (other than cash) and external liabilities to the Realization Account, the following transactions took place: (i) A debtor whose debt of ₹ 90,000 had been written off as bad, paid ₹ 88,000 in full settlement. (ii) Creditors to whom ₹ 1,21,000 were due to be paid, accepted stock at ₹ 71,000 and the balance was paid to them by a cheque. (iii) Raja had given a loan to the firm of ₹ 18,000. He was paid ₹ 17,000 in full settlement of his loan. (iv) Investments were ₹ 53,000 out of which investments worth ₹ 43,000 were taken over by Simar at ₹ 52,000 and the balance of the investments were sold for ₹ 12,000. (v) Expenses on dissolution amounted to ₹ 19,000 and the same were paid by the firm. (vi) Profit on dissolution amounted to ₹ 30,000. Pass the necessary journal entries for the above transactions in the books of the firm. DISSOLUTION of partnership firm class 12 T.S Grewal Solutions | Gaurav Jain accounts class 12 dissolution of a partner by gaurav jain Video solutions of Practice Questions - https://drive.google.com/file/d/1GRVF... Order your HELP BOOKS from here - Apni website (discounted price ) 🤩 - https://shop.thegauravjain.com/ From Amazon 😎 - https://amazon.thegauravjain.com/ COMMERCE KA BRAHMASTRA LINK - https://commerceking.my.canva.site/aa... DIRECT WHATSAPP LINK - https://wa.me/917690041256 order your HELP BOOKS from here - https://shop.thegauravjain.com/ Commerce vaalo ka apna batch - saarthi batch 🔥 3 CLICKs to enroll in SAARTHI BATCH STEP 1 - click on - https://www.thegauravjain.com/ STEP 2 - Click on saarthi Batch STEP 3 - Enroll Now ( by filling necessary details ) aajao saare COMMERCE KI TAAKAT SABKO DIKHAATE HAI 🔥 Saarthi Batch for Class 12 Commerce ( Full Year ) It includes ACCOUNTS + BUSINESS STUDIES + ECONOMICS only in 3,100 Live Classes Structured course Practice sheets and Webinars Test Series and Mock Tests Study Materials Doubt Solving Session Mentor Support Career Guidance Exam Preparation Strategies 1-year unlimited access Course Fee - ₹ 3100 ( full year - ACCOUNTS + BUSINESS + ECONOMICS ) JOIN US ON OTHER SOCIAL MEDIA HANDLES 😀 📣 Whatsapp - https://wa.me/917690041256 📣 Telegram - https://t.me/gauravjaincommerceking 📣 Instagram - / gaurav_jainofficial 📣 Website - https://www.thegauravjain.com/ 📣 Mobile Application - https://play.google.com/store/apps/de... WATCH MORE WITH OUR COMPLETE COURSE Playlist and Jugaad videos 😀 🥇 CLASS 12 Accounts - • Class 12 Accounts 🔥 COMPLETE COURSE for FR... 🥇 CLASS 12 BUSINESS - • Class 12 Business Studies🔥5 min Complete C... 🥇 MACRO ECONOMICS - • Class 12 Macro Economics 🔥 Complete Course... 🥇 INDIAN ECONOMY - • Class 12 INDIAN ECONOMY 🔥 Complete Course ... 🎗️ CLASS 11 Accounts - • Class 11 Accounts 🔥 Complete Course for FR... 🎗️ CLASS 11 BUSINESS - • Class 11 Business Studies 🔥 Complete Cours... 🎗️ STATISTICS - • Statistics Class 11 Complete Course for FR... 🎗️ MICRO ECONOMICS - • Microeconomics Class 11 Complete Course fo... 🏆 IMPORTANT ANNOUNCEMENT - https://commerceking.my.canva.site/im... #class12 #session2024-25 #gauravjain #accounts