Category: Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Question 17 Chapter 7 – Unimax Class 12 Part 1 – 2021 17. Read the following information: Liabilities Amount Assets Amount Accounts payable   25,200 Land and building   11,750 Investment fluctuation fund   5,000 Cash at Bank   3,250 Read More …

Question 16 Chapter 7 – Unimax Class 12 Part 1 – 2021 16. The balance sheet of P, Q and R as on March 31st 2021 who were sharing in the ratio of 5:3:1 was as follows: Liabilities Amount Assets Read More …

Question 15 Chapter 7 – Unimax Class 12 Part 1 – 2021 15. J, S and R were in partnership sharing profits and losses in the ratio of 3:2:1. Their balance sheet as on 31st December 2021 was as follows: Read More …

Question 14 Chapter 7 – Unimax Class 12 Part 1 – 2021 14. P, Q and R were partners in the firm sharing profits and losses in the ratio of 5:3:2. They agreed to dissolve their partnership firm on 31st Read More …

Question 13 Chapter 7 – Unimax Class 12 Part 1 – 2021 13. Naresh and Munish are equal partners running general stores including some fancy goods. On March 31st 2021, they decided to dissolve the firm. Their financial position on Read More …

Question 12 Chapter 7 – Unimax Class 12 Part 1 – 2021 12. X, Y and Z were partners sharing profits and losses in the ratio of 2:2:1. On January 1st 2021 their balance sheet was as follows: Liabilities Amount Read More …

Question 11 Chapter 7 – Unimax Class 12 Part 1 – 2021 11. The balance sheet of a firm on 31st March 2021 was as under: Liabilities Amount Assets Amount Capital     Land and building 8,00,000 A 5,00,000   Read More …

Question 08 Chapter 7 – Unimax Class 12 Part 1 – 2021 8. Pass the necessary Journal entries: A was to bear all the realisation expenses for which he was given a commission of 2% of net cash realized from Read More …

Question 07 Chapter 7 – Unimax Class 12 Part 1 – 2021 7. Pass necessary Journal entries for the following transactions at the time of dissolution of the firm: Undistributed balance (Cr.) Of P/L a/c is ₹ 80000. The firm Read More …