Q.No.6 | Chapter 7 – Dissolution of a Partnership Firm | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

The solution of Question 06 Chapter 7 of +2-A: -

 

Date	Particulars		L.F.	Debit	Credit
a	Partner’s Loan A/c	Dr.		10,000
	To Bank A/c				10,000
	(Being Loan refunded)
b	X’s Capital A/c	Dr.		300
	To Realization A/c				300
	(Being Unrecorded asset took over)
c	X’s Capital A/c	Dr.		10,000
	Y’s Capital A/c	Dr.		10,000
	Z’s Capital A/c	Dr.		10,000
	To X’s Capital A/c				30,000
	(Being Loss distributed)
d	Bank A/c	Dr.		1,25,000
	To Realization A/c				1,25,000
	(Being Assets realized)
e	Realizations A/c	Dr.		2,000
	To Y’s Capital A/c				2,000
	(Being Amount given for dissolution proceedings)
f	Realization A/c	Dr.		28,000
	To Bank A/c				28,000
	(Being Creditors paid)

 

 

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
• Chapter No. 3 – Goodwill: Nature and Valuation
• Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 – Admission of a Partner
• Chapter No. 6 – Retirement/Death of a Partner
• Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 – Company Accounts –  Accounting for Share Capital
• Chapter No. 9 – Company Accounts – Issue of Debentures
• Chapter No. 10 – Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis 
• Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
• Chapter No. 4 – Accounting Ratios
• Chapter No. 5 – Cash Flow Statement

 

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