
Question 09 Chapter 7 of +2-Part-1
9. (Realisation Entries) Pass Journal Entries for the following transactions at the time of dissolution of the firm.
(a) The assets of the firm realised Rs. 1,00,000
(b) Creditors paid Rs. 26,000 in full settlement of their account of Rs.30,000
(c) Loan of Rs. 25,000 advanced by a partner to the firm on dissolution of the firm
(d) Dissolution Expenses amount to Rs. 1,000
(e) An unrecorded assets realized Rs. 1,500.
The solution of Question 09 Chapter 7 of +2 Part-1: –
Journal |
|||||
Date | Particulars |
L.F. | Debit | Credit | |
a) | Bank A/c | Dr. | 1,00,000 | ||
To Realisation A/c | 1,00,000 | ||||
(Being assets realized at the time dissolution) | |||||
b) | Realisation A/c | Dr. | 26,000 | ||
To Bank A/c | 26,000 | ||||
(Being the payments to creditors at the time dissolution) | |||||
c) | Realisation A/c | Dr. | 25,000 | ||
To A’s capital A/c | 25,000 | ||||
(Being repayment of loan to a partner ) | |||||
d) | Realisation A/c | Dr. | 1,000 | ||
To Cash A/c | 1,000 | ||||
(Being dissolution expense paid) | |||||
e) | Cash A/c | Dr. | 1,500 | ||
To Realisation A/c | 1,500 | ||||
(Being amount realised from unrecorded assets ) | |||||
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

respected sir,
i want to ask that In the 9th question part (c)
realisation a/c dr. …..
to A’s capital a/c. ….
then here how can we say “to A’s capital a/c” because question don’t give any partner name
question only says that – loan of 25000 advanced by a partner …. here the question says that – by a partner
please solve my problem
thanks sir
You can leave this blank. Just use To ____ Partner’s Capital A/c
we just let his Name A
to make it easy.