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

The solution of Question 12 Chapter 7 of +2-A: -

 

Date	Particulars		L.F.	Debit	Credit
a	Realization A/c	Dr.		1,00,000
	To Sundry Assets A/c				1,00,000
	(Being All assets other than cash and bank transferred to Realization Account)
b	Atul’s Capital A/c	Dr.		40,000
	To Realization A/c				40,000
	(Being Atul took over 50)
c	Bank A/c	Dr.		26,000
	To Realization A/c				26,000
	(Being Assets worth Rs20,000, i. e. 40)
	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 Realization Account)

 

 

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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