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CBSE Class 12-commerce Answered

guarantee questions with solution ts grewal  
Asked by itsharshitachoudhary | 24 Jun, 2018, 12:15: PM
answered-by-expert Expert Answer
The solutions to TS Grewal Problems are already available with us. Please browse the following link to view the answers.
Link: https://www.topperlearning.com/study/cbse/class-12-commerce/accountancy/text-book-solutions/t-s-grewal-part-a-vol-i/539/accounting-for-partnership-firms-fundamentals/2448/b101c504s549e9
Answered by | 25 Jun, 2018, 10:27: AM

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CBSE 12-commerce - Accountancy
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CBSE 12-commerce - Accountancy
Solve it-
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Asked by raksha2sanubth | 13 Jul, 2020, 11:19: AM
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CBSE 12-commerce - Accountancy
A and B shared profits in the ratio of 7:3. They dissolved the firm and appointed A to realise the assets . A is to be received 6% commission on the amount realised from Stock, Debtors, B/R and Shares The position of the firm was as follows: - Liablities Rs Assets Rs. Creditors 60000 Plant and Machinery 20000 Repairs and Renewable Reserve 4000 Prepaid Insurance 1200 Bank Loan 20000 Stock 60000 A's Capital A/c 50000 100 shares in D.C.M. Ltd. 5000 B's Capital A/c 20000 Sundry Debtors 38000 B/R 6000 Cash at Bank 8800 A's Current A/c 5000 Profit & Loss Account 10000 154000 154000 Informations : I. A realised the assets as follows: - Full amount from Sundry Debtors and except from one for 2,OOO being insolvent. Stock realised e 52,000,; Shares in D.C.M. were sold for 60 each D_C.M. were sold for each. 2. Half the trade creditors accepted plant and machinery at an agreed valuation of 10% less than the book value and cash of 7000 in full settlement of claims. 3. Remaining creditors were paid off at a discount of 10%. Expenses of realisation amounted to Rs. 700. 4. One quarter's tax amounting to 1500 was due and had to be paid 5. There was a contingent liability amounting to 13,000. It was settled for Rs. 6000. 6. Bank Loan was discharged along with interest due for two months @18% pa Prepare necessary accounts
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