Question 09 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 7 of +2- Part
Q-9 - CH-7 - Usha +2 Book 2018 - Solution


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.

We are providing a solution of Question 9 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:-


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. 9 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 09 Chapter 7 of +2 Part-1: –

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

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm



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