CLASS 12 | DISSOLUTION | Q28 & Q29 | Chapter 7 | TS Grewal Solutions | 2024

Q28. Shilpa, Meena and Nanda decided to dissolve their partnership on 31st March, 2024. Their profit-sharing ratio was 3: 2: 1 and their Balance Sheet was as under: Liabilities Capital A/c’s: Shilpa Meena Bank Loan Creditors Provision for Doubtful Debts General Reserve BALANCE SHEET OF SHILPA, MEENA AND NANDA as on 31st March, 2024 Assets Land 80,000 40,000 Stock 1,20,000 Debtors 20,000 Nanda's Capital 37,000 Cash 1,200 12,000 1,90,200 81,000 56,760 18,600 23,000 10,840 1,90,200 It is agreed as follows: Stock of value of 41,660 is taken over by Shilpa for 35,000 and she agreed to pay bank loan. The remaining stock was sold at § 14,000 and debtors amounting to 10,000 realised © 8,000. Land is sold for 1,10,000. The remaining debtors realised 50% at their book value. Cost of realisation amounted to 1,200. There was a typewriter not recorded in the books worth of 6,000 which were taken over by one of the Creditors at this value. Prepare Realisation Account, Partners' Capital Accounts, and Cash Account to close the books of the firm. Q29. A and B are partners in a firm sharing profits and losses in the ratio of 3: 2. On 31st March, 2024, theirBalance Sheet was as follows: Liabilities Creditors Loan by Mrs. A Loan by B Reserve A's Capital B's Capital BALANCE SHEET as at 31st March, 2024 Assets 38,000 Cash at Bank 10,000 Stock 15,000 Debtors 5,000 Furniture 10,000 8,000 Plant 18,000 Investments Profit & Loss A/c 86,000 11,500 6,000 19,000 4,000 28,000 10,000 7,500 86,000 The firm was dissolved on 31st March, 2024 and both the partners agreed to the following: A took Investments at an agreed value of 8,000. He also agreed to settle Loan by Mrs. A. Other assets realised as: Stock- 5,000; Debtors-? 18,500; Furniture-- 4,500; Plant -7 25,000. Expenses of realisation came to 1,600. Creditors agreed to accept 37,000 in full settlement of their claims. Prepare Realisation Account, Partners' Capital Accounts and Bank Account. 00:00 Question 28 Shilpa, Meena and Nanda 18:03 Question 29 A and B are partners ts grewal Dissolution solutions 2024 ch 6 Dissolutionof a partner class 12 Dissolution of a partner ts grewal solutions Dissolution of a partner class 12 manan malik Dissolution of a partner class 12 practical questions Dissolution of a partner class 12 practical problems Dissolution of a partner class 12 numericals chapter 5 Dissolution of a partner class 12 Dissolution of a partner class 12 playlist Dissolution of a partner questions Dissolution of a partner class 12 question 14 Dissolution of a partner class 12 question 15 Dissolution of a partner class 12 question 16 Dissolution of a partner class 12 question 17 Dissolution of a partner class 12 questions class 12 accounts ts grewal solutions Dissolution of a partner class 12 introduction Dissolution of a partner class 12 illustrations #commerce #class12 #cbse #dissolutionofapartnershipfirm #dissolution #dissolutionofpartnership #class12accounts #accountancy #revaluationaccount #partnerscapitalaccount #balancesheet #accounts #newprofitsharingratio #gainingratio #accounting #tsgrewal2024 #partnershipfundamentals #solution #tsgrewalsolutions #partnership #commerce #class12 #cbse #tsgrewalsolutions #tsgrewal2024 #tsgrewal #tsgrewalsolution #account #accounts