Question 13 Chapter 7 of +2 Part-1 - USHA Publication 12 Class Part

Question 13 Chapter 7 of +2-Part-1

13. (Realisation Account) Maninder, Jatinder and Rupinder are partners in a firm sharing profits in the ratio of 4:3:3 respectively On 1-4-2017 they decided to dissolve the firm. On that date the sundry assets were Rs. 3,48,460, the creditors amounted to Rs. 46,300 and cash in hand was Rs. 77,840. The assets realized Rs. 2,89,820 and the expenses of dissolution was Rs. 3,720. Prepare Realisation Account

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The solution of Question 13 Chapter 7 of +2 Part-1: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

The solution of Question 13 Chapter 7 of +2 Part-1: –

Revaluation A/c
Particulars	Amount	Particulars		Amount
To Sundry Assets	3,48,460	By creditors		46,300
To Cash A/c		By Cash A/c		2,89,820
Expenses	3,720	By loss on revaluation
Creditors	46,300	Maninder’s capital A/c	24,944
		Jatinder’s capital A/c	18,708
		Rupinder’s capital A/c	18,708	62,354
	3,98,400			3,98,400