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Question 10 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 Chapter 7 of +2- Part
Q-10 - CH-7 - Usha +2 Book 2018 - Solution

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Question 10 Chapter 7 of +2-Part-1

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10. (Realisation Entries) Pass journal entries :
(a) On dissolution a machine of Rs. 8,000 was found unrecorded it in realised at Rs. 7,000. Expenses Rs. 200 incurred on its realisation.
(b) Investment in shares was written off three years ago. It was found to be worth Rs. 5,000 on dissolution. Partner X took over the shares.
(c) Unrecorded assets of Rs. 3,000 was given to a creditor of Rs. 4,000 whose claim was omitted from books. The balance to the creditor was settled in cash.
(d) As per court order a liability of Rs. 12,000 is paid to employee as compensation

We are providing a solution of Question 10 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. 10 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 10 Chapter 7 of +2 Part-1: –

Journal
Date  Particulars
L.F.DebitCredit
a)cash A/cDr. 6,800 
 To Realisation A/c   6,800
 (Being unrecorded machine realised at ₹ 7,000 and expenses paid ₹ 200)    
      
b)X’s capital A/cDr. 5,000 
 To Realisation A/c   5,000
 (Being unrecorded investments taken over by X )    
      
c)Realisation A/cDr. 1,000 
 To Cash A/c   1,000
 (Being creditor’s A/c settlement by cash payment)    
      
d)Realisation A/cDr. 12,000 
 To Cash A/c   12,000
 (Being dissolution expense paid)    
     

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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

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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