CLASS 12 | DISSOLUTION | Q22 & Q23 | Chapter 7 | TS Grewal Solutions | 2024

Ramu, Laxman and Bharat started business on 1st April, 2023 with capitals of 7 1,00,000, 80,000 and 60,000 respectively | Ashish and Kanav were partners in a firm.sharing profits and losses in the ratio of 3: 2. On 31st March, 2018 | Realisation account | CLASS 12 | DISSOLUTION | Q22 & Q23 | Chapter 7 | TS Grewal Solutions | 2024 Q22. Ashish and Kanav were partners in a firm.sharing profits and losses in the ratio of 3: 2. On 31st March, 2018 their Balance Sheet was as follows: BALANCE SHEET OF ASHISH AND KANAV as at 31st March, 2018 Liabilities Trade Creditors Employees' Provident Fund Mrs. Ashish's Loan Kanav's Loan Workmen's Compensation Fund Investment Fluctuation Reserve Capitals: Ashish Kanav Assets 42,000 Bank 60,000 Stock 9,000 Debtors 35,000 Furniture 20,000 Plant 4,000 Investments Profit & Loss A/c 35,000 24,000 19,000 40,000 2,10,000 32,000 10,000 1,20,000 80.000 2,00,000 3,70,000 3,70,000 On the above date they decided to dissolve the firm. (a) Ashish agreed to take over furniture at R 38,000 and pay Mrs. Ashish's loan. (b) Debtors realised 7-18,500 and plant realised 10% more. (c) Kanav took over 40% of the stock at 20% less than the book value. Remaining stock was sold at a gain of 10%. (d) Trade creditors took over investments in full settlement. (e) Kanav agreed to take over the responsibility of completing dissolution at an agreed remuneration of § 12,000 and to bear realisation expenses. Actual expenses of realisation amounted to € 8,000. Prepare Realisation Account. Q23. Ramu, Laxman and Bharat started business on 1st April, 2023 with capitals of 7 1,00,000, 80,000 and 60,000 respectively sharing profits and losses in the ratio of 4: 3: 3. For the year ending 31 st March, 2024, the firm incurred loss of © 50,000. Each of the partners withdrew € 10,000 during the year. On 1st April, 2024, the firm was dissolved. Creditors of the firm stood at § 24,000 on that date and cash in hand was © 4,000. Assets realised 7 3,00,000 and creditors were paid ™ 23,500 in settlement of their claims. Prepare Realisation Account and show your working clearly. 00:00 Question 22 12:40 Question 23 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