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Question 07 Chapter 7 of +2-Part-1
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7. (Unrecorded Liabilities) On 31 March a firm of partner X and A was dissolved was an outstanding bill of salary of Rs. 8,000. Pass journal entry when :
(a) It is settled for Rs. 6,000.
(b) It is assumed by X for Rs. 6,000.
We are providing a solution of Question 7 Chapter 7 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:
1. Check out the Solution of this question in Video Format:-
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The video consists solution of question numbers from 6 to 10 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 7 from the flowing video by using time stamps of the video.
2. Check out the Solution of this question in Article Format:-
The solution of Question 07 Chapter 7 of +2 Part-1: –
Journal |
|||||
Date | Particulars |
L.F. | Debit | Credit | |
a) | Realisation A/c | Dr. | 6,000 | ||
To Bank A/c | 6,000 | ||||
(Being liability paid on dissolution of the firm ) | |||||
b) | Realisation A/c | Dr. | 6,000 | ||
To cash A/c | 6,000 | ||||
(Being firm’s liability assumed by partner X on dissolution X of the firm ) | |||||
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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