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

Question 13 Chapter 7 of +2-Part-1

13. (Realisation Account) Maninder, Jatinder and Rupinder are partners in the 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 were Rs. 2,89,820 and the expenses of dissolution were Rs. 3,720. Prepare Realisation Account

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 – Sundry Assets		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

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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

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