T. S. Grewal Solutions for Class 12-commerce Accountancy CBSE Chapter 7: Dissolution of Partnership Firm

Dissolution of Partnership Firm Exercise 7.51

Solution Ex. 1

Journal

Date	Particulars		L.F.	Debit (Rs.)	Credit(Rs.)
	Cash A/c	Dr.		2,94,000
	---------To Realisation A/c				2,94,000
	(Being asset sold at the time of dissolution of the firm and broker's commission paid @2% on the realisable value)

Solution Ex. 2

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Realisation	Dr.		1,500
	----------To Cash A/c				1,500
	(Being realisation expenses paid)
(b)	Realisation A/c	Dr.		600
	----------To Mohan's Capital A/c				600
	(Being realisation expenses paid by Mohan)
(c)	Realisation A/c	Dr.		2,000
	--------To Mohan Capital A/c				2,000
	(Being commission allowed to Mohan on dissolution of the firm)
(d)	No Entry	Dr.
	(No journal entry to be passed as motor car and creditors have already been transferred to Realization A/c)

Solution Ex. 3

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Rahul Capital A/c	Dr.		15,000
	----------To Cash A/c				15,000
	(Being realisation expense paid by rahul)
(b)	Realisation A/c	Dr.		25,000
	----------To Ramesh Capital A/c				25,000
	(Being remuneration allowed to ramesh on account of taking responsibility of dissolution)
(c)	Realisation A/c	Dr.		20,000
	----------To Anju Capital A/c				20,000
	(Being remuneration allowed to Anju Capital A/c)
	Anju's Capital A/c	Dr.		5,000	5,000
	----------To Bank A/c
	(Being remuneration expenses paid by the firm on behalf of Anju)

Solution Ex. 4

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Realisation A/c	Dr.		7,500
	----------To Alok's Capital A/c				7,500
	(Being realisation allowed to alok capital A/c)
	Alok's Capital A/c	Dr.		10,000
	----------To Bank A/c				10,000
	(Being expenses paid by the firm on behalf of Alok)
	OR
	Realisation A/c	Dr.		7,500
	Alok's Capital A/c	Dr.		2,500
	----------ToBank A/c				10,000
	(Being realisation expense paid)
(b)	Realisation A/c	Dr.		5,000
	----------To Ravinder's Capital A/c				3,000
	----------To Bank A/c				2,000
	(Being realisation expense paid)
(c)	Realisation A/c	Dr.		10,000
	----------To Amit Capital A/c				10,000
	(Being realisation expense paid by Amit on behalf of the firm )

Dissolution of Partnership Firm Exercise 7.52

Solution Ex. 5

Journal
	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Realisation A/c	Dr.		40,000
	----To Cash A/c				40,000
	(Creditors worth Rs.85,000 accepted 40,000 as cash and investment worth Rs.43,000 in full settlement)

(b)	No Entry
	(Creditors worth Rs.16,000 accepted Machinery worth Rs.18,000 in full settlement. No entry as both asset and liability are already transferred to the Realisation Account)

(c)	Cash A/c	Dr.		30,000
	----To Realisation A/c				30,000
	(Creditors worth Rs.90,000 accepted Building worth Rs.1,20,000 and paid back Rs.30,000 as cash after settlement of claim to the firm)

Solution Ex. 6

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Bank A/c	Dr.		50,000
	----------To Realisation A/c				50,000
	(Being assets realized for cash)
(b)	Realisation A/c	Dr.		10,000
	----------ToBank A/c				10,000
	(Being payment of liabilities made)
(c)	Realisation A/c	Dr.		2,500
	----------To X's Capital A/c				2,500
	(Being 5% commission allowed to X's on sale of assets of Rs.50,000)
(d)	Realisation A/c	Dr.		10,000
	----------To Amrit Capital A/c				10,000
	(Being Amrit was allowed remuneration on account of relalisation )
	Amrit Capital A/c	Dr.		15,000
	----------To Bank A/c				15,000
	(Being realisation expense paid on behalf Amrit )
	Alternatively, only one single entry can also be passed instead of above two entries
	Realisation A/c	Dr.		10,000
	Amrit Capital A/c	Dr.		5,000
	----------To Bank A/c				15,000
	(Being realisation expenses paid)
(e)	Bad debts Recovered A/c	Dr.		3,600
	To Realisation A/c				3,600
	(Being bad debts recovered)
(f)	Cash A/c	Dr.
	----------To Realisation A/c			15,000
	(Being investments are realized at 150% )				15,000

Solution Ex. 7

Journal
Sr. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
a.	Partners Loan A/c	Dr.		10,000
	------------------------------------------------------------To Bank A/c				28,000
	(Being creditors paid )

Solution Ex. 8

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
a.	Realisation A/c	Dr.		12,000
	----------To Bank A/c				12,000
	(Being bank loan paid at the time of dissolution)
b.	Q's capital A/c	Dr.		16,000
	----------To Realisation A/c				16,000
	(Being stock taken over by Q)
c.	Realisation A/c	Dr.		4,000
	----------To P's Capital A/c				4,000
	(Being 5% commission allowed to X's on sale of assets of Rs.50,000)
d.	Bank A/c	Dr.		1,200
	----------To Realisation A/c				1,200
	(Being unrecorded assets realised )
e.	Realisation A/c	Dr.		2,000
	----------To Q' Capital A/c				2,000
	(Being bad debts recovered)
f.	Realisation A/c	Dr.		36,000
	----------To P's Capital A/c				20,000
	----------To Q's Capital A/c				16,000
	(Being realisation Profit distributed)

Solution Ex. 9

Journal
S. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Profit and Loss A/c	Dr.		18,000
	----------To X's capital A/c				9,000
	----------To Y's capital A/c				6,000
	----------To Z's capital A/c				3,000
	(Being balance in P and L A/c divided among Partners in the ratio of 3:2:1)
(b)	X's capital A/c	Dr.		50,000
	----------To Realisation A/c				50,000
	(Being unrecorded asset taken over by X)
(c)	Realisation A/c	Dr.		4,000
	----------To Bank A/c				4,000
	(Being creditors were paid Rs.4,000 in full settlement of their claim of Rs.5,000)

Solution Ex. 10

Journal
	Particulars		L.F.	Debit Rs.	Credit Rs.
(a)	Cash/Bank A/c	Dr.		3,000
	-----To Realisation A/c				3,000
	(Old and unrecorded furniture sold)


(b)	Cash/Bank A/c	Dr.		600
	-----To Realisation A/c				600
	(Bad debts previously written off now recovered)

(c)	Paras's Capital A/c	Dr.		30,000
	-----To Realisation A/c				30,000
	(Unrecorded goodwill taken over by Paras)

(d)	Priya's Capital A/c	Dr.		300
	-----To Realisation A/c				300
	(Unrecorded Typewriter taken over by Priya at 25% less price)

(e)	Paras's Capital A/c	Dr.		300
	Priya's Capital A/c	Dr.		300
	-----To Realisation A/c				600
	(100 unrecorded shares of Rs.10 each in the books taken @ Rs.6 each by Paras and Priya and divided between them in profit sharing ratio)

Dissolution of Partnership Firm Exercise 7.53

Solution Ex. 11

Journal
Sr. No.	Particulars	L.F	Debit Rs.	Credit Rs.
(a)	-------------------------------------------------------------------------------To Bank A/c			1,250
	(Being creditors paid )

Solution Ex. 12

Journal
Sr. No.	Particulars		L.F.	Debit Rs.	Credit Rs.
a.	Realisation A/c	Dr.		6,000
	----------To Kunal's capital A/c				6,000
	(Being Kunal agrees to pay off his wife's loan)
b.	Realisation A/c	Dr.		27,000
	----------To Cash A/c				27,000
	(Being creditors worth Rs.30,000 paid off at a discount 10%)
c.	Rohit Loan A/c	Dr.		70,000
	----------To Cash A/c				70,000
	(Being loan paid by firm )
d.	Kunal Capital A/c	Dr.		3,000
	----------To Realisation A/c				3,000
	(Being asset taken over by Kunal)
e.	Rohit Capital A/c	Dr.		5,000
	Kunal Capital A/c	Dr.		5,000
	Sarthak Capital A/c	Dr.		5,000
	----------To Profit and Loss A/c				15,000
	(Being loss distributed equally)
f.	Realisation A/c	Dr.		15,000
	----------To Sarthak's Capital A/c				15,000
	(Being remuneration of Rs.15,000 paid for completion of dissolution process )

Solution Ex. 13

Journal
Date	Particulars		L.F.	Debit Rs.	Credit Rs.
	Realisation A/c	Dr.		1,00,000
	-----To Sundry Assets A/c				1,00,000
	(All assets other than cash and bank transferred to Realisation Account)

	Atul's Capital A/c	Dr.		40,000
	-----To Realisation A/c				40,000
	(Atul took over 50% of assets worth Rs 1,00,000 at 20% discount) [1,00,000 @ 50% @ 80%]

	Bank A/c	Dr.		26,000
	-----To Realisation A/c				26,000
	(Assets worth Rs 20,000, i.e. 40% of assets of Rs 50,000 are sold at a profit of 30%) [50,000 × (40/100) × (130/100)]

	No entry for obsolete assets and for the assets given to the creditors in the full settlement as these are already transferred to the Realisation Account)

Dissolution of Partnership Firm Exercise 7.54

Solution Ex. 14

Journal
Sr. No.	Particular		L.F	Debit Rs.	Credit Rs.
a.	Bank A/c	Dr.		1,40,000
	------------------------------To Realisation A/c				15,000
	(Being loss on dissolution transferred to partners' capital account )

Note: **No pass for asset taken over by the creditor

Solution Ex. 15

Journal
Date	Particular	L.F	Debit Rs.	Credit Rs.
--------------------------------------------------------------------82,000
	(Being creditors paid)

Solution Ex. 16

Journal
Date	Particular		L.F	Debit Rs.	Credit Rs.
(a)	Bank A/c	Dr.		1,250
	------------------------------------------------To Bank A/c				3,500
	(Being liability discharged)

Dissolution of Partnership Firm Exercise 7.55

Solution Ex. 17

Journal
Date	Particulars		L.F.	Debit Rs.	Credit Rs.

(a)	Realisation A/c	Dr.		12,000
	-----To Dharam's Capital A/c				12,000
	(Remuneration paid)

(b)	Realisation A/c	Dr.		15,000
	-----To Jay's's Capital A/c				15,000
	(Remuneration paid)

	Jay's Capital A/c	Dr.		16,000
	-----To Vijay's Capital A/c				16,000
	(Expenses borne by Jay, paid by Vijay)

(c)	Realisation A/c	Dr.		7,000
	-----To Deepa's Capital A/c				7,000
	(Remuneration paid)

	Deepa's Capital A/c	Dr.		6,000
	-----To Bank A/c				6,000
	(Expenses paid by firm)

(d)	*No Entry*

(e)	Realisation A/c	Dr.		10,000
	-----To Jeev's Capital A/c				10,000
	(Remuneration paid)

	Jeev's Capital A/c	Dr.		12,000
	-----To Bank A/c				12,000
	(Expenses paid by firm)

(f)	*No Entry*

Solution Ex. 18

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Sundry Assets A/c			By Creditors A/c		1,70,000
---Debtors	2,40,000		By Ramesh's Current A/c (stock)		55,000
---Stock	1,30,000
---Furniture	2,00,000		By Cash A/c (Assets)
---Machinery	9,30,000	15,00,000	---Stock	50,000
			---Machinery	4,50,000
			---Debtors	2,28,000	7,28,000
To Cash A/c (Liabilities)			By Umesh's Current A/c (Furniture)		50,000
---Creditors	1,70,000
---Outstanding Bill	1,40,000	3,10,000	By Realistion Loss:
			---Ramesh's Current A/c	5,64,900
			---Umesh's Current A/c	2,42,100	8,07,000

		18,10,000			18,10,000

Solution Ex. 19

In the books of the firm Realisation Account
Dr.						Cr.
Date	Particulars		Rs.	Date	Particulars	Rs.
	To Building		1,20,000		By Provision on Debtors	4,000
	To Investment		30,600		By Creditors	80,000
	To Debtors		34,000		By Mrs. Pradeep's Loan	40,000
	To Bills Receivable		37,400		By Investment Fluctuation Fund	8,000
	To Goodwill		4,000		By Bank (Debtors)	12,000
	To Pradeep's Capital		40,000		By Bank (Building)	1,52,000
	To Bank (expenses)		2,500		By Bank (Bills Receivable)	36,000
	To Bank (WN 1)		59,000		By Cash	27,000
	To Pradeep's Capital		1,000
	To Partner's Capital:
	Pradeep	18,300
	Rajesh	12,200	30,500

			3,59,000			3,59,000

Working Notes:

1. Calculation of amount to be paid to creditors

Dissolution of Partnership Firm Exercise 7.56

Solution Ex. 20

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Machinery A/c		10,580	By Sundry Creditors A/c		14,000
To Stock A/c		4,740	By Bank A/c (Assets Realised)		19,500
To Debtors A/c		5,540	By Loss transferred to:
To Bank A/c:			X's Capital A/c	1,200
Creditors	14,000		Y's Capital A/c	600	1,800
Expenses	440	14,440
		35,300			35,300

Partner's Capital Account
Dr.					Cr.
Particulars	X	Y	Particulars	X	Y
To Realisation A/c (Loss)	1,200	600	By Balance b/d	4,000	3,000
To Bank A/c	3,133	2,567	By Reserve for contingencies A/c	333	167

	4,333	3,167		4,333	3,167

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	640	By Realisation A/c	14,440
To Realisation A/c	19,500	By X's Capital A/c	3,133
		By Y's Capital A/c	2,567
	20,140		20,140

Solution Ex. 21

Journal
Date	Particulars		L.F.	Debit Rs.	Credit Rs.
	Realisation A/c	Dr.		9,22,000
	----------To Land and Building A/c				4,00,000
	----------T0 Machinery A/c				3,00,000
	----------To Debtors A/c				2,22,000
	(Being assets transferred)
	Creditors A/c	Dr.		1,79,000
	Employees' Provident Fund A/c	Dr.		21,000
	----------To Realisation A/c				2,00,000
	(Being liabilities transferred)
	Bank A/c	Dr.		4,30,000
	----------To Realisation A/c				4,30,000
	(Being Land and Building realized)
	Bank A/c (2,25,000 + 1,000)	Dr.		2,26,000
	----------To Realisation A/c				2,26,000
	(Being debtors realized along with Bad- debts recovered)
	Bank A/c	Dr.		25,000
	----------To Realisation A/c				25,000
	(Being unrecorded investment sold)
	Bank A/c	Dr.		2,80,000
	----------To Realisation A/c				2,80,000
	(Being machinery took over by Vichal for Cash)
	Realisation A/c	Dr.		1,96,000
	----------To Bank A/c (85,500 + 89,500 + 21,000)				1,96,000
	(Being 50% creditors of Rs.89,500 were paid at a discount of Rs.4,000 and remaining 50% were settled in full and EPF)
	Realisation A/c	Dr.		43,000
	----------To Achal's Capital A/c				16,125
	----------To Vichal's Capital A/c				26,875
	(Being profits on realization transferred)
	Achal's Capital A/c	Dr.		3,16,125
	Vichal's Capital A/c	Dr.		5,26,875
	----------To Bank A/c				8,43,000
	(Being partners paid off)

Dissolution of Partnership Firm Exercise 7.57

Solution Ex. 22

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Building A/c		45,000	By Sundry Creditors A/c		14,000
To Machinery A/c		15,000	By Bank A/c:
To Furniture A/c		12,000	Stock	22,000
To Debtors A/c		8,000	Debtors	7,500
To Stock A/c		24,000	Machinery	16,000
			Building	35,000	80,500
To Bank A/c:			By Bale's Loan A/c		500
---Creditors	14,000		By Yale's Capital A/c		9,000
---Expenses	2,500	16,500	By Loss transferred to:
			---Bale's Capital A/c	8,250
			---Yale's Capital A/c	8,250	16,500
		1,20,500			1,20,500

Partner's Capital Account
Dr.					Cr.
Particulars	Bale	Yale	Particulars	X	Y
To Realisation A/c (Loss)	8,250	8,250	By Balance b/d	50,000	40,000
To Realisation A/c		9,000	By General Reserve A/c	4,000	4,000
To Bank A/c	45,750	26,750
	54,000	44,000		54,000	44,000

Bale's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	2,500	By Balance b/d	3,000
To Realisation A/c	500

	3,000		3,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	11,000	By Balance b/d	2,500
To Realisation A/c	80,500	By Realisation A/c	16,500
		By Bale Capital A/c	45,750
		By Yale's Capital A/c	26,750
	91,500		91,500

Solution Ex. 23

Realisation Account
Dr.						Cr.
Particulars		Rs.	Particulars		Rs.
Land		81,000	Bank Loan		20,000
Stock		56,760	Creditors		37000
Debtors		18,600	Provision for doubtful debts		1,200
Shilpa's Capital A/c		20,000	Shilpa's Capital A/c (Stock)		35,000
Cash:			Cash:
Creditors	31000		Stock	14000
Realisation Expenses	1,200	32200	Debtors	12300
Realisation Profit			Land	1,10,000	1,36,300
Shilpa's Capital A/c	10,470
Meena's Capital A/c	6,980
Nanda's Capital A/c	3,490	20,940
		2,29,500			2,29,500

Partners' Capital Account
Dr.						Cr.
Particulars	Shilpa	Meena	Nanda	Particulars	Shilpa	Meena	Nanda
Balance b/d	-	-	23,000	Balance b/d	80,000	40,000	-
Realisation	35,000			General Reserve	6,000	4,000	2,000
(Stock)				Realisation	20,000
Cash	81,470	50,980		(Bank Loan)
				Realisation (Profit)	10,470	6,980	3,490
				Cash			17,510
	1,16,470	50,980	23,000		1,16,470	50,980	23,000

Cash Account
Dr.				Cr.
Particulars	Rs.	Particulars	Rs.
Balance b/d	10,840	Realisation (Expenses)	32,200
Realisation (Assets)	1,36,300	Shilpa's Capital A/c	81,470
Nanda's Capital A/c	17,510	Meena's Capital A/c	50,980

	1,64,650		1,64,650

Dissolution of Partnership Firm Exercise 7.58

Solution Ex. 24

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Stock A/c		6,000	By Creditors A/c		38,000
To Debtors A/c		19,000	By Mrs. A's Loan A/c		10,000
To Furniture A/c		4,000	By A's Capital A/c		8,000
To Plant A/c		28,000	By Bank A/c:
To Investment A/c		10,000	Stock	5,000
To A's Capital A/c: (Mrs. A's Loan)		10,000	Debtors	18,500
To Bank A/c:			Furniture	4,500
Creditors	37,000		Plant	25,000	53,000
Expenses	1,600	38,600	By Loss transferred to:
			A's Capital A/c	3,960
			B's Capital A/c	2,640	6,600


		1,15,600			1,15,600

Partner's Capital Account
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Realisation A/c (Loss)	3,960	2,640	By Balance b/d	10,000	8,000
To Realisation A/c	8,000		By Reserve A/c	3,000	2,000
To Profit and Loss A/c	4,500	3,000	By Realisation A/c	10,000
To Bank A/c	6,540	4,360
	23,000	10,000		23,000	10,000

B's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	15,000	By Balance b/d	15,000
	15,000		15,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	11,500	By Realisation A/c	38,600
To Realisation A/c	53,000	By A's Capital A/c	6,540
		By B's Capital A/c	4,360
		By B's Loan A/c	15,000

	64,500		64,500

Solution Ex. 25

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Building A/c		40,000	By Provision for Doubtful Debts A/c		2,000
To Plant and Machinery A/c		40,000	By Bills Payable A/c		40,000
To Stock A/c		19,000	By Loan from Bank A/c		30,000
To Sundry Debtors A/c		42,000	By Bank A/c
To Bank A/c			Stock	23,400
Bill Payable	32,000		Debtors	21,000
Outstanding Bill	800		Building	36,000
Expenses	1,250		Plant and Machinery	36,000	1,16,400
Loan from Bank	30,000	64,050	By Loss transferred to
			P's Capital A/c	9,250
			Q's Capital A/c	5,550
			R's Capital A/c	1,850	16,650

		2,05,050			2,05,050

Partner's Capital Accounts
Dr.							Cr.
Particulars	P	Q	R	Particulars	P	Q	R
To Realisation A/c (Loss)	9,250	5,550	1,850	By Balance b/d	44,000	36,000	20,000
To Bank A/c	39,750	33,450	19,150	By Reserve A/c	5,000	3,000	1,000

	49,000	39,000	21,000		49,000	39,000	21,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	40,000	By Realisation A/c	64,050
To Realisation A/c	1,16,400	By P's Capital	39,750
		By Q's Capital	33,450
		By R's Capital	19,150

	1,56,400		1,56,400

Solution Ex. 26

Realisation Account
Dr.				Cr.
Particulars	Rs.	Particulars		Rs.
To Stock A/c	19,800	By Provision for Doubtful Debts A/c		1,000
To Debtors A/c	15,000	By Creditors A/c		17,000
To Investments A/c	4,000	By Bills Payable A/c		12,000
To Furniture A/c	10,000	By Vindo's Capital A/c		5,000
To Machinery A/c	33,000	By Bank A/c:
To Bank A/c (Expenses)	2,000	Stock	17,500
To Bank A/c (Creditors)	17,000	Debtors	14,500
To Bank A/c (Bills Payable)	12,000	Building	6,800
		Machinery	30,300	69,100
		By Loss transferred to:
		Vinod	4,350
		Vijay	2,900
		Venkat	1,450	8,700
	1,12,800			1,12,800

Partner's Capital Accounts
Dr.							Cr.
Particulars	Vinod	Vijay	Venkat	Particulars	Vinod	Vijay	Venkat
To Realisation A/c	5,000			By Balance b/d	25,000	11,000	8,000
To Realisation A/c (Loss)	4,350	2,900	1,450	By General Reserve A/c	3,000	2,000	1,000
To Bank A/c	18,650	10,100	7,550

	28,000	13,000	9,000		28,000	13,000	9,000

Vinod's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	5,300	By Balance b/d	5,300
	5,300		5,300

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	3,500	By Realisation A/c (Expenses)	2,000
To Realisation A/c	69,100	By Realisation A/c	17,000
(Assets realized)		(Creditors)
		By Realisation A/c	12,000
		(Bills Payable)
		By Vinod's Loan A/c	5,300
		By Vinod's Capital A/c	18,650
		By Vijay's Capital A/c	10,100
		By Venkat's Capital A/c	7,550
	72,600		72,600

Dissolution of Partnership Firm Exercise 7.59

Solution Ex. 27

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Plant and Machinery A/c		30,000	By Creditors A/c		10,000
To Stock A/c		5,500	By Bills Payable A/c		3,700
To Investments A/c		15,000	By Investments Fluctuation Reserve A/c		4,500
To Debtors A/c		7,100	By Provision for Doubtful Debts A/c		450
			By P's Capital A/c (Investments)		12,500
To Cash A/c			By Cash A/c:
Creditors	10,000		Stock and Debtors	11,500
Bills Payable	3,700		Plant and Machinery	22,500
Expenses	900	14,600	Unrecorded Assets	1,500	35,500
To P's Capital A/c		1,000	By Loss transferred to:
			P's Capital A/c	3,275
			Q's Capital A/c	1,965
			R's Capital A/c	1,310	6,550

		73,200			73,200

Partner's Capital Accounts
Dr.							Cr.
Particulars	P	Q	R	Particulars	P	Q	R
To Balance b/d			8,000	By Balance b/d	37,550	15,000
To Realisation A/c (Loss)	3,275	1,965	1,310	By Realisation A/c	1,000
To Realisation A/c	12,500			By Cash A/c			9,310
To Cash A/c	22,775	13,035

	38,550	15,000	9,310		38,550	15,000	9,310

Cash Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	5,600	By Realisation A/c	14,600
To Realisation A/c	35,500	By P's Capital A/c	22,775
To R's Capital A/c	9,310	By Q's Capital A/c	13,035
	50,410		50,410

Solution Ex. 28

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars	Rs.
Building		80,000	Creditors	88,000
Machinery		70,000	Bank overdraft	50,000
Furniture		14,000	Ashu's Capital A/c (*see working note*)	1,43,000
Stock		20,000	Harish's Capital A/c (*see working note*)	1,12,000
Investments		60,000	Cash (Debtors)	46,000
Debtors		48,000
Ashu's Capital A/c (Creditors)		88,000
Harish's Capital A/c (Bank Overdraft)		50,000
Cash (Expenses)		3,000
Realisation Profit
Ashu's Capital A/c	3,600
Harish's Capital A/c	2,400	6,000
		4,39,000		4,39,000

Partners' Capital Account
Dr.						Cr.
Particulars	Ashu	Harish	Particulars	Ashu	Harish
Realisation (Assets taken)	1,43,000	1,12,000	Balance b/d	1,08,000	54,000
Cash	56,600		Realisation (Liabilities)	88,000	50,000
			Realisation (Profit)	3,600	2,400
			Cash		5,600
	1,99,600	1,12,000		1,99,600	1,12,000

Cash Account
Dr.				Cr.
Particulars	Rs.	Particulars	Rs.
Balance b/d	8,000	Realisation (Expenses)	3,000
Realisation (Debtors)	46,000	Ashu's Capital A/c	56,600
Harish's Capital A/c	5,600
	59,600		59,600

Working Notes:

	Ashu	Harish
Building	95,000
Machinery and Furniture		80,000
Stock (3:2)	12,000	8,000
Investment (3:2)	36,000	24,000
	1,43,000	1,12,000

Dissolution of Partnership Firm Exercise 7.60

Solution Ex. 29

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Stock A/c		20,100	By Creditors A/c		50,400
To Debtors A/c		62,600	By A's Capital A/c (Investments)		18,000
To Investments A/c		16,000	By Cash A/c:
To Furniture A/c		6,500	Furniture and Building	29,700
To Building A/c		23,500	Stock and Debtors	80,000	1,09,700
To Cash A/c
Expenses	1,300		By Loss transferred to:
Creditors	49,600		A's Capital A/c	1,000
Bills	1,500	52,400	B's Capital A/c	1,000
			C's Capital A/c	1,000	3,000
		1,81,100			1,81,100

Partner's Capital Accounts
Dr.							Cr.
Particulars	P	Q	R	Particulars	P	Q	R
To Realisation A/c(Investments)	18,000			By Balance b/d	30,000	25,000	15,000
To Realisation A/c (Loss)	1,000	1,000	1,000	By Reserve A/c	4,000	4,000	4,000
To Cash A/c	15,000	28,000	18,000


	34,000	29,000	19,000		34,000	29,000	19,000

Cash Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	3,700	By Realisation A/c	52,400
To Realisation A/c	1,09,700	By A's Capital A/c	15,000
		By B's Capital A/c	28,000
		By C's Capital A/c	18,000
	1,13,400		1,13,400

*The answer provided in the book is different.

Solution Ex. 30

Realisation Account

Dr.

Cr.

Particulars

Rs.

Particulars

Rs.

To Naresh's Capital A/c

10,000

By Creditors A/c

40,000

To Investments

30,000

By Bills Payable

40,000

To Debtors

36,000

By Mrs. Yogesh's Loan

42,000

To Bills Receivable

33,400

By Naresh's Capital A/c

26,000

To Yogesh's Capital A/c

To Cash/Bank A/c

42,000

78,000

By Cash/Bank A/c

30,000

31,730

15,000

10,000

To Gain transferred to:

By Investment Fluctuation Reserve

8,000

Yogesh's Capital A/c

6,665

Naresh's Capital A/c

6,665

13,330

2,42,730

Dr. Partner's Capital Accounts Cr.

Particulars

Yogesh

Naresh

Particulars

Yogesh

Naresh

To Profit and Loss A/c

55,300

By Balance b/d

21,000

To Realisation A/c

To Cash/Bank A/c

-

14,365

26,000

By Realisation A/c

42,000

-

6,665

-

10,000

6,665

By Partner's Loan A/c

-

43,635

69,665

81,300

69,665

81,300

Partner's Loan Account

Dr.

Cr.

Particulars

Yogesh

Naresh

Particulars

Yogesh

Naresh

To Partners Capital A/c

-

43,635

By Balance c/d

-

44,000

To Cash/Bank A/c

-

365

-

44,000

-

44,000

Cash/Bank Account

Dr.

Cr.

Particulars

Rs.

Particulars

Rs.

To Balance b/d

6,000

By Realisation A/c

78,000

To Realisation A/c

30,000

By Yogesh's Capital A/c

14,365

To Realisation A/c

31,730

By Partner's Loan A/c

365

To Realisation A/c

15,000

10,000

92,730

Dissolution of Partnership Firm Exercise 7.61

Solution Ex. 31

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Land and Building A/c		57,000	By Creditors A/c		40,000
To Stock A/c		50,000	By A's Capital A/c (car)		20,000
To A's Salary A/c		20,000	By Land and Building A/c	40,000
To Sundry Debtors A/c		50,000	By Stock A/c	30,000
To Bank A/c			By Sundry Debtors A/c	42,000	1,12,000
Creditors (40,000 + 15,000)	55,000		By Loss transferred to:
Expenses	1,200	56,200	A's Capital A/c	30,600
			B's Capital A/c	20,400
			C's Capital A/c	10,200	61,200

		2,33,200			2,33,200

Partners' Capital Accounts
Dr.							Cr.
Particulars	A	B	C	Particulars	A	B	C
To Realisation A/c (Loss)	30,600	20,400	10,200	By Balance b/d	60,000	40,000	10,000
To Advt. Suspense A/c	3,000	2,000	1,000	By Workmen C. Reserve	10,500	7,000	3,500
To Realisation A/c	20,000			By Realisation A/c	20,000
To Profit and Loss A/c	7,500	5,000	2,500	By Bank A/c			200
To Bank A/c	29,400	19,600
	90,500	47,000	13,700		90,500	47,000	13,700

A's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	10,000	By Balance b/d	10,000
	10,000		10,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	3,000	By Realisation A/c	56,200
To Realisation A/c	1,12,000	By A's Capital A/c	29,400
To C's Capital A/c	200	By B's Capital A/c	19,600
		By A's Loan A/c	10,000
	1,15,200		1,15,200

Solution Ex. 32

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Sundry Debtors A/c		26,000	By Provision for Doubtful Debts A/c		2,000
To Investments A/c		40,000	By Bank Overdraft A/c		30,000
To Stock A/c		10,000	By Investment Fluctuation Reserve A/c		20,000
To Furniture A/c		10,000	By A's Capital A/c (Investment)		35,000
To Building A/c		60,000	By Bank A/c:
To Bank A/c:			---Sundry Debtors	26,000
Compensation of Employees	10,000		---Stock	8,500
Bank Overdraft	30,000	40,000	---Furniture	8,000
To Profit transferred to:			---Building	1,00,000	1,42,500
---A's Capital A/c	29,000
---B's Capital A/c	14,500-	43,500

		2,29,500			2,29,500

Partner's Capital Accounts
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Balance b/d		30,000	By Balance b/d	50,000
To Realisation A/c (Investment)	35,000		By General Reserve A/c	37,333	18,667
To Bank A/c	81,333	3,167	By Realisation A/c (Profit)	29,000	14,500


	1,16,333	33,167		1,16,333	33,167

A's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	34,000	By Balance b/d	34,000
	34,000		34,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	10,000	By Realisation A/c	40,000
To Cash A/c	6,000	By A's Capital A/c	81,333
To Realisation A/c	1,42,500	By B's Capital A/c	3,167
		By A's Loam A/c	34,000
	1,58,500		1,58,500

Dissolution of Partnership Firm Exercise 7.62

Solution Ex. 33

Realisation Account
Dr.						Cr.
Particulars		Rs.	Particulars		Rs.
Sundry Debtors		58,000	Sundry Creditors		20,000
Stock		39,500	Bills Payable		25,500
Machinery		48,000	Ashok's Current A/c (Investment)		40,000
Investment		42,000	Babu's Current A/c (Machinery)		45,000
Freehold property		50,500	Chetan's Current A/c		55,000
Bank:			(Freehold property)
Sundry Creditors	18,600		Bank:
Bills Payable	25,500		Sundry Debtors	56,500
Expenses	3,000	47,100	Stock	36,500
Realisation Profit			Unrecorded Computer	9,000	1,02,000
Ashok's Current A/c	1,200
Babu's Current A/c	800
Chetan's Current A/c	400	2,400

		2,87,500			2,87,500

Partners' Current Account
Dr.								Cr.
Particulars	Ashok	Babu	Chetan	Particulars	Ashok	Babu	Chetan
Realisation	40,000	45,000	55,000	Balance b/d	10,000	5,000	3,000
(Assets taken)				Realisation (Profit)	1,200	800	400
				Ashok's Capital A/c	28,800
				Babu's Capital A/c		39200
				Chetan's Capital A/c			51600
	40,000	45,000	55,000		40,000	45,000	55,000

Partners' Capital Account
Dr.								Cr.
Particulars	Ashok	Babu	Chetan	Particulars	Ashok	Babu	Chetan
Ashok's Current A/c	28,800			Balance b/d	70,000	55,000	27,000
Babu's Current A/c		39200		Bank A/c			24,600
Chetan's Current A/c			51600
Bank A/c	41,200	15,800


	70,000	55,000	51,600		70,000	55,000	51,600

Babu's Loan A/c
Dr.				Cr.
Particulars	Rs.	Particulars	Rs.
Bank A/c	30,000	Balance b/d	30,000

	30,000		30,000

Bank Account
Dr.				Cr.
Particulars	Rs.	Particulars	Rs.
Balance b/d	7,500	Realisation A/c (Payment of Expenses and Liabilities)	47,100
Realisation A/c (Assets realised)	102,000
Chetan's Capital A/c	24,600	Babu's Loan	30,000
		Ashok's Capital A/c	41,200
		Babu's Capital A/c	15,800

	1,34,100		1,34,100

Solution Ex. 34

Realisation Account
Dr.			Cr.
Particulars		Rs.	Particulars		Rs.
To Stock A/c		80,000	By Creditor A/c		41,500
To Debtors A/c		50,000	By Bills payable A/c		20,000
To Investment A/c		55,000	By Bank Loan A/c		40,000
To Premises A/c		1,51,500	By Investment Fluctuation Reserve A/c		40,000
To Bank A/c :-			By Provision for Doubtful Debts A/c		2,500
Bill	5,000		By Bank A/c-
Creditor and Bills payable	57,500		By Assets	3,25,000
Expenses	15,000		By Investments	56,500
Bank loan	40,000	1,17,500	By Bill	2,500	3,84,000
To Profit transferred to:
X's Capital A/c	29,600
Y's Capital A/c	29,600
Z's Capital A/c	14,800	74,000
		5,28,000			5,28,000

Partners' Capital Accounts
Dr.							Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
To Bank A/c	1,24,600	1,24,600	39,800	By Balance b/d	75,000	75,000	15,000
(bal. fig.)				By General Reserve A/c	20,000	20,000	10,000
				By Realisation A/c	29,600	29,600	14,800
	1,24,600	1,24,600	39,800		1,24,600	1,24,600	39,800

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars		Rs.
To Balance b/d	22,500	By Realisation A/c		1,17,500
To Realisation A/c	3,84,000	By X's Capital A/c		1,24,600
		By Y 's Capital A/c		1,24,600
		By Z 's Capital A/c		39,800
	4,06,500			4,06,500

Dissolution of Partnership Firm Exercise 7.63

Solution Ex. 35

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Stock A/c		75,000	By Provision for Doubtful Debts		6,000
To Book Debts A/c		66,000	By Sundry Creditors A/c		75,000
To Plant and Machinery A/c		45,000	By Bills Payable A/c		30,000
To Land and Building A/c		48,000	By Rita's Loan A/c		15,000
To Bank A/c:			By Rita's A/c - Goodwill		30,000
Sundry Creditors	67,500
Bills Payable	30,000		By Bank A/c:
Expenses	5,250	1,02,750	---Book Debts	54,000
To Profit transferred to:			---Stock	73,125
---Rita's Capital A/c	70,688		---Plant and Machinery	75,000
---Sobha's Capital A/c	70,687	1,41,375	---Land and Building	1,20,000	3,22,125

		4,78,125			4,78,125

Partner's Capital Accounts
Dr.					Cr.
Particulars	Rita	Sobha	Particulars	Rita	Sobha
To Realisation A/c (Assets)	30,000		By Balance b/d	90,000	30,000
To Bank A/c	1,42,688	1,12,687	By Reserve fund A/c	12,000	12,000
			By Realisation A/c (Profit)	70,688	70,687
	1,72,688	1,12,687		1,72,688	1,12,687

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	30,000	By Realisation A/c	1,02,750
To Cash Capital A/c	6,000	By Rita's Captial A/c	1,42,688
To Realisation A/c	3,22,125	By Sobha's Capital A/c	1,12,687

	3,58,125		3,58,125

Working Notes:

1.

Value of stock taken by Rita

2.

Value of Stock sold

Solution Ex. 36

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Stock A/c		7,500	By Provision for Doubtful Debts A/c		3,000
To Investments A/c		15,000	By Trade Creditors A/c		45,000
To Book Debts A/c		30,000	By Bills Payable A/c		12,000
To Building A/c		22,500	By Mrs. Arvind's Loan A/c		7,500
To Plant A/c		30,000	By Mrs. Balbir's Loan A/c		15,000
To Goodwill A/c		6,000	By Investments Fluctuation Reserve A/c		1,500
To Arvind's Capital A/c (Mrs. Arvind's Loan)		7,500	By Arvind Capital A/c (Stock)		6,000
To Bank A/c:			By Balbir's Capital A/c		6,750
Trade Creditors	44,925		(Investments 7500 x 90%)
Bills Payable	11,980		By Balbir's Capital A/c		450
Expense	1,500		(Unrecorded Typewriter)
Mrs. Balbir's Loan	15,000	73,405	By Bank A/c
Profit transferred to:			Book Debts	28,500
Arvind's Capital A/c	23,522.50		Plant	37,500
Balbir's Capital A/c	23,522.50	47,045	Building	60,000
			Goodwill	9,000
			Investments	6,750	1,41,750

		2,38,950			2,38,950

Partner's Capital Accounts
Dr.					Cr.
Particulars	Arvind	Balbir	Particulars	Arvind	Balbir
To Profit and Loss A/c	2,625	2,625	By Balance b/d	15,000	15,000
To Realisation A/c (Assets)	6,000	7,200	By Realisation A/c	7,500
To Bank A/c	44,897.50	36,197.50	By Reserve Fund A/c	7,500	7,500
			By Realisation A/c (Profit)	23,522.50	23,522.50

	53,522.50	46,022.50		53,522.50	46,022.50

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	12,000	By Realisation A/c	73,405
To Cash A/c	750	By Arvind's Capital A/c	44,897.5
To Realisation A/c	1,41,750	By Balbir's Capital A/c	36,197.5

	1,54,500		1,54,500

Working Notes:

Creditors	45,000
Less: 2% discount for 1 month	(75)
Payment made to Creditors	44,925

Bills Payable	12,000
Less: 2% discount for 1 month	(20)
Payment made to for Bills Payable	11,980

Dissolution of Partnership Firm Exercise 7.64

Solution Ex. 37

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Debtors A/c		75,000	By Creditors A/c		50,000
To Stock A/c		40,000	By Bank Loan A/c		35,000
To Investments A/c		20,000	By Provident Fund A/c		15,000
To Plant A/c		50,000	By Commission Received in Advance A/c		8,000
To Cash A/c:			By Investments Fluctuation Fund A/c		10,000
Commission Received in Advance	5,000		By Cash A/c
Outstanding Salary	8,500		Debtors	60,000
Compensation paid to Employees	17,000		Stock	35,500
Provident Funds	20,000		Investments	16,000
Creditors	50,000		Plant	45,000	1,56,500
Bank Loan	35,000	1,35,500	By Loss transferred to :
To Anju's Capital A/c (Commission)		7,825	Anju's Capital A/c	21,530
			Maju's Capital A/c	21,530
			Sanju's Capital A/c	10,765	53,825
		3,28,325			3,28,325

Partner's Capital Accounts
Dr.							Cr.
Particulars	Anju	Manju	Sanju	Particulars	Anju	Manju	Sanju
To Profit and Loss A/c	1,200	1,200	600	By Balance b/d	50,000	50,000	30,000
To Realisation A/c	21,530	21,530	10,765	By Realisation A/c	7,825
To Cash A/c	35,095	27,270	18,635


	57,825	50,000	30,000		57,825	50,000	30,000

Cash Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	60,000	By Realisation A/c	1,35,500
To Realisation A/c	1,56,500	By Anju's Capital A/c	35,095
		By Manju's Capital A/c	27,270
		By Sanju's Capital A/c	18,635
	2,16,500		2,16,500

Working Notes:

1.

Calculation of Realisation of Plant

2.

Calculation of Realisation of Plant

Solution Ex. 38

Realisation Account
Dr.				Cr.
Particulars	Rs.	Particulars		Rs.
To Building A/c	20,000	By Creditors A/c		11,210
To Plant A/c	31,220	By Depreciation on Plant A/c		20,000
To Good will A/c	10,000	By A' Capital A/c
To 100 Shares in X Ltd. A/c	2,400	Building	31,500
To 1000 Shares in Y Ltd. A/c	10,000	Shares of Y Ltd	7,000	38,500
To Stock A/c	11,240	By B' Capital A/c
To Debtors A/c	8,740	Goodwill	10,000
To Patents A/c	38,080	Stock	11,240
To B Capital A/c	11,210	---Debtors	8,740
(Creditors)		---Patents	30,000
		---Plant	5,000
		---Shares of Y Ltd.	2,000	66,980
		By C's Capital A/c
		Shares of X Ltd.	1,500
		Shares of Y Ltd.	1,000	2,500
		By Loss transferred to :
		A's Capital A/c	2,590
		B's Capital A/c	740
		C's Capital A/c	370	3,700


	1,42,890			1,42,890

Partner's Capital Accounts
Dr.							Cr.
Particulars	A	B	C	Particulars	A	B	C
To Realisation A/c (Assets)	38,500	66,980	2,500	By Balance b/d	12,410	8,650	80,620
To Realisation A/c (Loss)	2,590	740	370	By Realisation A/c (Creditors)		11,210
To Bank A/c			77,750	By Bank A/c	28,680	47,860


	41,090	67,720	80,620		41,090	67,720	80,620

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	1,210	By C's Capital A/c	77,750
To A's Capital A/c	28,680
To B's Capital A/c	47,860

	77,750		77,750

Working Notes:

Distribution of Shares in Y Ltd.

Dissolution of Partnership Firm Exercise 7.65

Solution Ex. 39

Realisation Account
Dr.					Cr
Particulars		Rs.	Particulars			Rs.
To Plant A/c		2,20,000	By Creditors			75,000
To Investment A/c		70,000	By Bills Payable			40,000
To Stock A/c		50,000	By Outstanding Salary			35,000
To Debtors A/c		60,000	By Bank A/c
To Bank A/c			Plant	85,000
Creditors	75,000		Stock	33,000
Bills Payable	40,000		Debtors	47,000
Outstanding Salary	35,000	1,50,000	Investment	66,500		2,31,500
To Bank A/c			By Partners Capital A/c
Outstanding Bill for Repair	7,500		Srijan	81,030
Dishonour of Discount Bill	15,000	22,500	Raman	81,030
To Srijan's Capital A/c Commission			Manan	40,515		2,02,575
(2,31,500×0.05)		11,575
		5,84,075				5,84,075

Partner's Capital Account
Dr.								Cr.
Particulars	Srijan	Raman	Manan	Particulars	Srijan	Raman	Manan
To Balance b/d			10,000	By Balance b/d	2,00,000	1,50,000
To P/L A/c	32,000	32,000	16,000	By Realisation A/c
To Realisation A/c				(Commission)	11,575
(Loss)	81,030	81,030	40,515	By Bank A/c			66,515
To Bank A/c	98,545	36,970
	2,11,575	1,50,000	66,515		2,11,575	1,50,000	66,515

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars		Rs.
To Balance b/d	10,000	By Realisation A/c		1,50,000
To Realisation A/c (Asset realised)	2,31,500	By Realisation A/c		22,500
To Manan's Capital A/c	66,515	By Srijan's Capital A/c		98,545
		By Raman's Capital A/c		36,970


	3,08,015			3,08,015

Solution Ex. 40

Realisation Account
Dr.				Cr.
Particulars	Rs.	Particulars		Rs.
To Debtors A/c	70,000	By Provision for Doubtful Debts A/c		6,000
To Stock A/c	50,000	By Creditors A/c		40,000
To Investment A/c	60,000	By Bills Payable A/c		46,000
To Furniture A/c	42,000	By Employee's Provident Fund A/c		32,000
To Machinery A/c	1,36,000	By Investment Fluctuation Fund A/c		16,000
To Land A/c	1,00,000	By Mrs. A's Loan A/c		38,000
To Goodwill A/c	30,000	By A's Capital A/c (Stock)		36,000
To A's Capital A/c (Mrs. A's Loan)	38,000	By B's Capital A/c (Debtors)		28,000
To C's Capital A/c (Creditors)	20,000	By C's Capital A/c (Investment)		54,000
To Cash A/c (Expense)	4,000	By Cash A/c (Debtors) 60% x 35,000		21,000
To Cash A/c (Creditors)	20,000	By Cash A/c (Furniture)		30,000
To Cash A/c (Bills Payable)	46,000	By Cash A/c (Machinery)		82,000
To Cash A/c (Employees' Provident Fund)	32,000	By Cash A/c (Land)		1,20,000
		By Cash A/c (Unrecorded Assets)		22,000
		By Loss on Revaluation transferred to:
		A's A/c	30,800
		B's A/c	30,800
		C's A/c	15,400	77,000

	6,48,000			6,48,000

Partner's Capital Accounts
Dr.							Cr.
Particulars	A	B	C	Particulars	A	B	C
To Realisation A/c (Stock)	36,000			By Balance b/d	1,20,000	1,00,000	1,00,000
To Realisation A/c (Debtors)		28,000		By Realisation A/c (Mrs. A's Loan)	38,000
To Realisation A/c (Investments)			54,000	By Realisation A/c (Creditors)			20,000
To Realisation A/c (Loss)	30,800	30,800	15,400
To Cash A/c	91,200	41,200	50,600

	1,58,000	1,00,000	1,20,000		1,58,000	1,00,000	1,20,000

C's Loan Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Cash A/c	30,000	By Balance b/d	30,000
	30,000		30,000

Cash Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	40,000	By Realisation A/c (Creditors)	20,000
To Realisation A/c (Debtros)	21,000	By Realisation A/c (Expenses)	4,000
To Realisation A/c (Furniture)	30,000	By Realisation A/c (Bills Payable)	46,000
To Realisation A/c (Machinery)	82,000	By Realisation A/c (Employees' Provident Fund)	32,000
To Realisation A/c (Land)	1,20,000	By C's Loan A/c	30,000
To Realisation A/c (Unrecorded Assets)	22,000	By A's Capital A/c	91,200
		By B's Capital A/c	41,200
		By C's Capital A/c	50,600
	3,15,000		3,15,000

Dissolution of Partnership Firm Exercise 7.66

Solution Ex. 41

Realisation Account
Dr.					Cr.
Particulars		Rs.	Particulars		Rs.
To Trade Marks A/c		1,200	By Provision for Bad Debts A/c		400
To Machinery A/c		12,000	By Bank Loan A/c		1,500
To Furniture A/c		400	By Creditors for Goods A/c		8,000
To Stock A/c		6,000	By Bills Payable A/c		500
To Debtors A/c		9,000	By Bank A/c
To Bank A/c:			Goodwill	1,000
Bank Loan	1,500		Debtors	8,100
Creditors	7,920		Trade Marks	800
Bills Payable	500		Unrecorded Assets	200	10,100
Expense	800	10,720	By Krishna's Capital A/c
			Machinery	14,400
			Stock in Trade	3,600	18,000
			By Loss transferred to:
			Krishna's Capital A/c	656
			Arjun's Capital A/c	164	820
		39,320			39,320

Partners Capital Accounts
Dr.					Cr
Particulars	Krishna	Arjun	Particulars	Krishna	Arjun
To Advertisement Suspense A/c	800	200	By Balance b/d	16,000	6,000
To Realisation A/c (Assets)	18,000		By Bank A/c	3,456
To Realisation A/c (Loss)	656	164
To Bank A/c		5,636
	19,456	6,000		19,456	6,000

Bank Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	2,800	By Realisation A/c	10,720
To Realisation A/c	10,100	By Arjun's Capital A/c	5,636
To Krishna's Capital A/c	3,456

	16,356		16,356

Solution Ex. 42

Realisation Account
Dr.					Cr.
Particulars	Rs.	Particulars			Rs.
To Sundry Assets A/c (WN)	1,20,000	By Creditors A/c			30,000
To Cash A/c	30,000	By Cash A/c			1,00,000
		By Loss transferred to:
			X's Capital A/c	10,000
			Y's Capital A/c	10,000	20,000
	1,50,000				1,50,000

Partners' Capital Account
Dr.					Cr.
Particulars	X	Y	Particulars	X	Y
To Realisation A/c (Loss)	10,000	10,000	By Balance b/d	50,000	40,000
To Cash A/c	40,000	30,000
	50,000	40,000		50,000	40,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c	1,00,000	By Realisation A/c	30,000
		By X's Capital A/c	40,000
		By Y's Capital A/c	30,000
	1,00,000		1,00,000

Working Note:

Memorandum Balance Sheet
Liabilities			Rs.	Assets	Rs.
Capital				Sundry Assets (Bal. Fig.)	1,20,000
	X	50,000
	Y	40,000	90,000
Creditors			30,000

			1,20,000		1,20,000

Solution Ex. 43

Realisation Account
Dr.					Cr.
Particulars	Rs.	Particulars			Rs.
To Sundry Assets A/c (WN)	65,000	By Creditors A/c			20,000
To Cash A/c (Creditors)	20,000	By Cash A/c (Assets realized)			50,000
		By Loss transferred to:
			A's Capital A/c	7,500
			B's Capital A/c	4,500
			C's Capital A/c	3,000	15,000
	85,000				85,000

Partners Capital Account
Dr.							Cr.
Particulars	A	B	C	Particulars	A	B	C
To Balance b/d			5,000	By Balance b/d	30,000	20,000
To Realistion A/c (loss)	7,500	4,500	3,000	By Cash A/c			8,000
To Cash A/c	22,500	15,500


	30,000	20,000	8,000		30,000	20,000	8,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c (Assets)	50,000	By Realisation A/c (Creditors)	20,000
To C's Capital A/c	8,000	By A's Capital A/c	22,500
		By B's Capital A/c	15,500

	58,000		58,000

Working Note:

Memorandum Balance Sheet
as on march 31, 2019
Liabilities			Rs.	Assets	Rs.
Capital				C's Capital	5,000
	A	30,000		Sundry Assets (Bal. Fig.)	65,000
	B	20,000	50,000
Other liabilities			20,000

			70,000		70,000

Dissolution of Partnership Firm Exercise 7.67

Solution Ex. 44

Realisation Account
Dr.					Cr.
Particulars			Rs.	Particulars	Rs.
To Sundry Assets A/c (WN)			21,250	By Other liabilities A/c	5,000
To Cash A/c (Liabilities)			5,000	By Cash A/c (Assets Realised)	24,000
To Profit transferred to:
	A's Capital A/c	1,750
	B's Capital A/c	1,000	2,750
			29,000		29,000

Partners' Capital Account
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Cash A/c	8,750	5,000	By Balance B/d	7,000	4,000
			By Realisation A/c (Profit)	1,750	1,000
	8,750	5,000		8,750	5,000

Partners' Loan Account
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Cash A/c	4,500	750	By Balance b/d	4,500	750


	4,500	750		4,500	750

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realistion A/c (Assets)	24,000	By A's Capital A/c	8,750
		By B's Capital A/c	5,000
		By A's Loan A/c	4,500
		By B's Loan A/c	750
		By Realisation A/c	5,000
	24,000		24,000

Working Note:

Memorandum Balance Sheet
as on 30th May 2018
Liabilities			Rs.	Assets	Rs.
Capital				Sundry Assets	21,250
	A	7,000		(Balancing fig.)
	B	4,000	11,000
	A's Loan		4,500
	B's Loan		750
Other Liabilities			5,000

			21,250		21,250

Solution Ex. 45

Realisation Account
Dr.						Cr.
Particulars			Rs.	Particulars		Rs.
To Sundry Assets A/c (WN)			69,250	By Sundry Creditors A/c		20,000
To Bank A/c				By Bank A/c
Creditors		20,000		---Stock	20,000
Expenses		350	20,350	---Debtors	25,000
To Profit transferred to:				---Other Assets	20,000	65,000
	A's Capital A/c	1,450		By B's Capital A/c (machinery)		7,500
	B's Capital A/c	1,450	2,900
			92,500			92,500

A's Loan Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Bank A/c	10,000	By Balance b/d	10,000

	10,000		10,000

Partners Capital Account
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Realisation A/c (Machinery)		7,500	By Balance b/d	25,000	15,000
To Bank A/c	26,450	8,950	By Realisation A/c (Profit)	1,450	1,450

	26,450	16,450		26,450	16,450

Bank Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	750	By A's Loan A/c	10,000
To Realisation A/c	65,000	By A's Capital A/c	26,450
		By B's Capital A/c	8,950
		By Realisation A/c	20,350

	65,750		65,750

Working Note:

Memorandum Balance Sheet
as on 31^st March 2019
Liabilities				Rs.	Assets	Rs.
Capital					Cash in Hand and at Bank	750
		A	25,000		Sundry Assets	69,250
		B	15,000	40,000
Sundry creditors				20,000
	A's Loan			10,000

				70,000		70,000

Solution Ex.46

Realisation Account
Dr.							Cr.
Particulars			Rs.	Particulars			Rs.
To Sundry Assets A/c (WN)			1,20,000	By Creditors A/c			40,000
To Cash A/c				By Cash A/c (Assets Realised)			1,10,000
	Creditors	40,000		By Loss transferred to:
	Expenses	1,000	41,000		Ashok's Capital A/c	8,250
					Kishore's Capital A/c	2,750	11,000
			1,61,000				1,61,000

Partners Capital Account
Dr.					Cr.
Particulars	Ashok	Kishore	Particulars	Ashok	Kishore
To Balance b/d		10,000	By Balance b/d	1,00,000
To Realisation A/c (Loss)	8,250	2,750	By Cash A/c		14,750
To Profit and Loss A/c	6,000	2,000
To Cash A/c	85,750
	1,00,000	14,750		1,00,000	14,750

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
By Balance b/d	2,000	By Realisation A/c	41,000
To Realisation A/c	1,10,000	By Ashok's Capital A/c	85,750
To Kishore's Capital A/c	14,750

	1,26,750		1,26,750

Working Note:

Memorandum Balance Sheet
Liabilities	Rs.	Assets	Rs.
Creditors	40,000	Cash	2,000
Ashok's Capital	1,00,000	Kishore's Capital	10,000
		Profit and Loss	8,000
		Sundry Assets (Balancing fig.)	1,20,000

	1,40,000		1,40,000

Solution Ex. 47

Realisation Account
Dr.					Cr.
Particulars	Rs.	Particulars			Rs.
To Sundry Assets A/c (WN 2)	18,000	By Cash A/c (Assets Realised)			6,000
		By Loss transferred to:
			X's Capital A/c	4,000
			Y's Capital A/c	4,000
			Z's Capital A/c	4,000	12,000
	18,000				18,000

Partners' Capital Account
Dr.							Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
To Realisation A/c (Loss)	4,000	4,000	4,000	By Balance b/d	9,000	6,000	3,000
To Cash A/c	5,000	2,000		By Cash A/c			1,000

	9,000	6,000	4,000		9,000	6,000	4,000

Working Note:

1.

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c	6,000	By X's Capital A/c	5,000
To Z's Capital A/c	1,000	By Y's Capital A/c	2,000

	7,000		7,000

2.

Memorandum Balance Sheet
Liabilities			Rs.	Assets	Rs.
Capital				Sundry Assets (Balancing fig.)	18,000
	X'S Capital	9,000
	Y'S Capital	6,000
	Z'S Capital	3,000	18,000

			18,000		18,000

Solution Ex.48

Realisation Account
Dr.					Cr.
Particulars			Rs.	Particulars	Rs.
To Sundry Assets A/c (WN 2)			1,80,000	By Sundry Creditors A/c	24,000
To Cash A/c (Creditors)			23,500	By Cash A/c (Assets)	3,00,000
To Profit transferred to:
	A's Capital A/c	48,200
	B's Capital A/c	36,150
	C's Capital A/c	36,150	1,20,500
			3,24,000		3,24,000

Partners Capital Account
Dr.							Cr.
Particulars	A	B	C	Particulars	X	Y	Z
To Cash A/c	1,18,200	91,150	71,150	By Balance b/d	70,000	55,000	35,000
				By Realisation A/c	48,200	36,150	36,150

	1,18,200	91,150	71,150		1,18,200	91,150	71,150

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	4,000	By Realisation A/c	23,500
To Realisation A/c	3,00,000	By A's Capital A/c	1,18,200
		By B's Capital A/c	91,150
		By C's Capital A/c	71,150
	3,04,000		3,04,000

Working Note:

1.

Calculation of partners 'Capital as on March 31,2019

Particulars	A	B	C
Capital as on April 01,2018	1,00,000	80,000	60,000
Less: Drawings	(10,000)	(10,000)	(10,000)
Less: Share of Loss (4:3:3)	(20,000)	(15,000)	(15,000)
Capital as on April 01,2019	70,000	55,000	35,000

2.

Memorandum Balance Sheet
as on March 31, 2019
Liabilities		Rs.	Assets	Rs.
Capital			Cash in Hand	4,000
	A	70,000	Sundry Assets (Balancing fig.)	1,80,000
	B	55,000
	C	35,000
Creditors		24,000
		1,84,000		1,84,000

Solution Ex.49

Realisation Account
Dr.						Cr.
Particulars		Rs.	Particulars			Rs.
To Sundry Assets A/c		83,000	By Sundry Liabilities A/c (WN)			28,000
To Cash A/c :			By Cash A/c (Assets realised)			80,000
---Sundry Liabilities	28,000		By Loss transferred to:
---Contingent Liabilities	8,000	36,000		A's Capital A/c	5,500
				B's Capital A/c	2,750
				C's Capital A/c	2,750	11,000
		1,19,000				1,19,000

Partners' Capital Account
Dr.							Cr.
Particulars	A	B	C	Particulars	X	Y	Z
To Realisation A/c	5,500	2,750	2,750	By Balance b/d	20,000	20,000	20,000
To Bank A/c	14,500	17,250	17,250

	20,000	20,000	20,000		20,000	20,000	20,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	5,000	By Realisation A/c	36,000
To Realisation A/c	80,000	By A's Capital A/c	14,500
		By B's Capital A/c	17,250
		By C's Capital A/c	17,250
	85,000		85,000

Working Notes:

Memorandum Balance Sheet

Liabilities			Rs.	Assets	Rs.
Capital				Cash in Hand	5,000
	A	20,000		Sundry Assets	83,000
	B	20,000
	C	20,000	60,000
Sundry Liabilities (Balancing fig.)			28,000
			88,000		88,000

Dissolution of Partnership Firm Exercise 7.68

Solution Ex. 50

Realisation Account
Dr.		Cr.
Particulars	Rs.	Particulars			Rs.
To Sundry Assets (WN)	17,000	By A's Capital A/c (Stock)			5,000
		By B's Capital A/c (Furniture)			2,000
		By C's Capital A/c (Debtors)			3,000
		By Bank A/c (Assets realised)			1,000
			A's Capital A/c	3,000
			B's Capital A/c	2,000
			C's Capital A/c	1,000	6,000
	17,000				17,000

Partners' Capital Account
Dr.							Cr.
Particulars	A	B	C	Particulars	X	Y	Z
To Realisation A/c	5,000	2,000	3,000	By Balance b/d	8,100	5,300	3,600
To Realisation A/c (Loss)	3,000	2,000	1,000	By Cash A/c			400
To Cash A/c	100	1,300
	8,100	5,300	4,000		8,100	5,300	4,000

Bank Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c	1,000	By A's Capital A/c	100
To C's Capital A/c	400	By B's Capital A/c	1,300


	1,400		1,400

Working Note:

Memorandum Balance Sheet
as on 31^st March 2019
Liabilities		Rs.	Assets	Rs.
Capital A/c:			Sundry Assets (Balance fig.)	17,000
	A (10,000-1,900)	8,100
	B (7,000-1,700)	5,300
	C (5,000-1,400)	3,600

		17,000		17,000

Solution Ex. 51

	Realisation Account
Dr.			Cr.
Particulars		Rs.	Particulars			Rs.
To Sundry Assets A/c (WN)		4,80,000	By Trade Creditors A/c			2,00,000
To B's Loan A/c		20,000	By Cash A/c (Assets realized)			4,50,000
To Cash A/c (Creditors)		2,00,000	By B's Capital A/c (B's Loan)			20,000
			By Loss transferred to:
				A's Capital A/c	20,000
				B's Capital A/c	10,000	30,000

		7,00,000				7,00,000

Partners Capital Account
Dr.					Cr.
Particulars	A	B	Particulars	A	B
To Realisation A/c		20,000	By Balance b/d	1,70,000	30,000
To Realisation A/c (Loss)	20,000	10,000
To Cash A/c	1,50,000

	1,70,000	30,000		1,70,000	30,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c (Assets)	4,50,000	By Realisation A/c (Creditors)	2,00,000
		By A's Capital A/c	1,50,000
		By A's Loan A/c	1,00,000

	4,50,000		4,50,000

Working Note:

Memorandum Balance Sheet
Liabilities			Rs.	Assets	Rs.
Capital				B'S Loan	20,000
	A	1,70,000		Sundry Assets (Balancing fig.)	4,80,000
	B	30,000	2,00,000
A's Loan			1,00,000
Trade Creditors			2,00,000
			5,00,000		5,00,000

Solution Ex. 52

Realisation Account
Dr.							Cr.
Particulars			Rs.	Particulars			Rs.
To Sundry Assets A/c			94,000	By Creditors A/c			24,000
To X's Capital A/c (Creditors)			14,000	By Cash A/c (Assets Realised)			88,500
To Cash A/c:				By Loss transferred to:
	Creditors	7,500			X's Capital A/c	2,100
	Expenses	500	8,000		Y's Capital A/c	1,400	3,500

			1,16,000				1,16,000

Partners Capital Account
Dr.					Cr.
Particulars	X	Y	Particulars	X	Y
To Realisation A/c (Loss)	2,100	1,400	By Balance b/d	40,000	30,000
To Cash A/c	51,900	28,600	By Realisation A/c (creditors)	14,000


	54,000	30,000		54,000	30,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c (Assets)	88,500	By Realisation A/c	8,000
		By X's Capital A/c	51,900
		By Y's Capital A/c	28,600

	88,500		88,500

Working Note:

Memorandum Balance Sheet
as on 31^st March 2019
Liabilities			Rs.	Assets	Rs.
Capital				Sundry Assets (Balancing Fig.)	94,000
	X	40,000
	Y	30,000	70,000
Creditors			24,000

			94,000		94,000

Solution Ex. 53

Realisation Account
Dr.							Cr.
Particulars			Rs.	Particulars			Rs.
To Sundry Assets A/c (WN 1)			1,26,000	By Creditors A/c			18,000
To Cash A/c				By Cash A/c (Assets Realised)			1,08,600
	Creditors	18,000		By Loss transferred to:
	Expenses	1,800	19,800		P's Capital A/c	7,200
					Q's Capital A/c	7,200
					R's Capital A/c	4,800	19,200
			1,45,800				1,45,800

Partners Capital Account
Dr.							Cr.
Particulars	P	Q	R	Particulars	P	Q	R
To Drawings A/c	8,000	7,000	5,000	By Balance b/d	30,000	30,000	20,000
To Realisation A/c (Loss)	7,200	7,200	4,800	By Interest on Capital A/c	1,500	1,500	1,000
To Cash A/c	32,800	33,800	22,200	By P/L Appropriation A/c (WN 2)	9,000	9,000	6,000
				By General Reserve A/c	7,500	7,500	5,000
	48,000	48,000	32,000		48,000	48,000	32,000

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Realisation A/c (Assets)	1,08,600	By Realisation A/c	19,800
		By P's Capital A/c	32,800
		By Q's Capital A/c	33,800
		By R's Capital A/c	22,200
	1,08,600		1,08,600

Working Note:

1.

Memorandum Balance Sheet
Liabilities			Rs.	Assets	Rs.
Capital				Sundry Assets (Balancing fig.)	1,26,000
	P (80,000×3/8)	30,000		Drawings
	Q (80,000×3/8)	30,000		P	8,000
	R (80,000×2/8)	20,000	80,000	Q	7,000
General Reserve			20,000	R	5,000
Profit and Loss			28,000
Creditors			18,000
			1,46,000		1,46,000

2.

Profit and Loss Appropriation Account
Dr.		Cr.
Particulars		Rs.	Particulars	Rs.
To Interest on Capital A/cs:			By Profit and Loss A/c	28,000
---P	1,500
---Q	1,500
---R	1,000	4,000
To Profit transferred to:
---P's Capital A/c	9,000
---Q's Capital A/c	9,000
---R's Capital A/c	6,000	24,000
		28,000		28,000

Solution Ex.54

Profit and Loss Appropriation
For the year ended 31^st March 2018
Dr.								Cr.
Particulars				Rs.	Particulars			Rs.
To Interest on Capital A/c					By Profit and Loss A/c			21,600
	X (40,000×15%)		6,000		By Interest on Drawings A/c
	Y (30,000×15%)		4,500			X (6,000×5%)	300
	Z (20,000×15%)		3,000	13,500		Y (6,000×5%)	300
						Z (6,000×5%)	300	900
To Profit transferred to:
		X's Capital A/c	4,500
		Y's Capital A/c	3,000
		Z's Capital A/c	1,500	9,000
				22,500				22,500

Partners' Capital Account

Dr.							Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
To Drawings A/c	6,000	6,000	6,000	By Cash A/c	40,000	30,000	20,000
To Interest on Drawings A/c	300	300	300	By Interest on Capital A/c	6,000	4,500	3,000
To Balance c/d	44,200	31,200	18,200	By P/L Appropriation A/c	4,500	3,000	1,500
	50,500	37,500	24,500		50,500	37,500	24,500

Profit and Loss Appropriation Account
for the year ended 31^st March 2018
Dr.					Cr.
Particulars			Rs.	Particulars				Rs.
To Interest on Capital A/c				By Profit and Loss A/c				25,140
	X (44,200×15%)	6,630		By Interest on Drawings A/c
	Y (31,200×15%)	4,680				X (6,000× 5%)	300
	Z (18,200×15%)	2,730	14,040			Y (6,000× 5%)	300
To Profit transferred to:						Z (6,000× 5%)	300	900
	X's Capital A/c	6,000
	Y's Capital A/c	4,000
	Z's Capital A/c	2,000	12,000
			26,040					26,040

Partners' Capital Account
year ended 31^st March 2018
Dr.							Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
To Drawings A/c	6,000	6,000	6,000	By Balance b/d	44,200	31,200	18,200
To Interest on Drawings A/c	300	300	300	By Interest on Capital A/c	6,630	4,680	2,730
To Balance c/d	50,530	33,580	16,630	By P/L Appropriation A/c	6,000	4,000	2,000
	56,830	39,880	22,930		56,830	39,880	22,930

To Cash A/c	51,280	34,080	16,880	By Balance b/d	50,530	33,580	16,630
				By Realisation A/c (Profit)	750	500	250
	51,280	34,080	16,880		51,280	34,080	16,880

Realisation Account
Dr.			Cr.
Particulars			Rs.	Particulars	Rs.
To Sundry Assets A/c			1,18,740	By Creditors A/c	20,000
To Cash A/c				By Cash A/c (Assets realized)	1,21,000
	Creditors	20,000
	Expenses	760	20,760
To Profit transferred to:
	X's Capital A/c	750
	Y's Capital A/c	500
	Z's Capital A/c	250	1,500
			1,41,000		1,41,000

Partners Capital Account
Dr.							Cr.
Particulars	X	Y	Z	Particulars	X	Y	Z
To Cash A/c	51,280	34,080	16,880	By Balance b/d	50,530	33,580	16,630
				By Realisation A/c (Profit)	750	500	250


	51,280	34,080	16,880		51,280	34,080	16,880

Cash Account
Dr.	Cr.
Particulars	Rs.	Particulars	Rs.
To Balance b/d	2,000	By Realisation A/c	20,760
To Realisation A/c	1,21,000	By X's Capital A/c	51,280
		By Y's Capital A/c	34,080
		By Z's Capital A/c	16,880
	1,23,000		1,23,000

Memorandum Balance Sheet as on 31^st March 2018
Liabilities			Rs.	Assets	Rs.
Capital				Cash	2,000
	X	50,530		Sundry Assets	1,18,740
	Y	33,580
	Z	16,630	1,00,740
creditors			20,000

			1,20,740		1,20,740

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Class 12-commerce T S GREWAL Solutions Accountancy Chapter 7 - Dissolution of Partnership Firm

Dissolution of Partnership Firm Exercise 7.51

Solution Ex. 1

Solution Ex. 2

Solution Ex. 3

Solution Ex. 4

Dissolution of Partnership Firm Exercise 7.52

Solution Ex. 5

Solution Ex. 6

Solution Ex. 7

Solution Ex. 8

Solution Ex. 9

Solution Ex. 10

Dissolution of Partnership Firm Exercise 7.53

Solution Ex. 11

Solution Ex. 12

Solution Ex. 13

Dissolution of Partnership Firm Exercise 7.54

Solution Ex. 14

Solution Ex. 15

Solution Ex. 16

Dissolution of Partnership Firm Exercise 7.55

Solution Ex. 17

Solution Ex. 18

Solution Ex. 19

Dissolution of Partnership Firm Exercise 7.56

Solution Ex. 20

Solution Ex. 21

Dissolution of Partnership Firm Exercise 7.57

Solution Ex. 22

Solution Ex. 23

Dissolution of Partnership Firm Exercise 7.58

Solution Ex. 24

Solution Ex. 25

Solution Ex. 26

Dissolution of Partnership Firm Exercise 7.59

Solution Ex. 27

Solution Ex. 28

Dissolution of Partnership Firm Exercise 7.60

Solution Ex. 29

Solution Ex. 30

Dissolution of Partnership Firm Exercise 7.61

Solution Ex. 31

Solution Ex. 32

Dissolution of Partnership Firm Exercise 7.62

Solution Ex. 33

Solution Ex. 34

Dissolution of Partnership Firm Exercise 7.63

Solution Ex. 35

Solution Ex. 36

Dissolution of Partnership Firm Exercise 7.64

Solution Ex. 37

Solution Ex. 38

Dissolution of Partnership Firm Exercise 7.65

Solution Ex. 39

Solution Ex. 40

Dissolution of Partnership Firm Exercise 7.66

Solution Ex. 41

Solution Ex. 42

Solution Ex. 43

Dissolution of Partnership Firm Exercise 7.67

Solution Ex. 44

Solution Ex. 45

Solution Ex.46

Solution Ex. 47

Solution Ex.48

Solution Ex.49

Dissolution of Partnership Firm Exercise 7.68

Solution Ex. 50

Solution Ex. 51

Solution Ex. 52

Solution Ex. 53

Solution Ex.54

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