Question 13 Chapter 7 - Unimax Class 12 Part 1 - 2021

Question 13 Chapter 7 – Unimax Class 12 Part 1 – 2021

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The solution of Question 13 Chapter 7 – Unimax Class 12 Part 1: –

Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.

Accountancy – Unimax Class 12 Part 2 – 2021 – Solution.

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13. Naresh and Munish are equal partners running general stores including some fancy goods. On March 31st 2021, they decided to dissolve the firm. Their financial position on that day is given below:

Liabilities		Amount	Assets	Amount
Accounts payable		1,800	Bank	2,000
Capitals			Account receivable	3,800
Naresh	12,000		Stock	10,000
Munish	8,000	20,000	Furniture	2,000
			Lease	4,000

		21,800		21800

Various assets realised as under:

Lease ₹6000; Furniture ₹2200; Stock ₹9200; Debtors ₹ 3600.
Creditors agreed to accept ₹ 1720 in the final settlement.
Expenses amounting to ₹ 128 were spent for realisation.

Prepare the required ledger accounts to close the books of the firm. Record necessary journal entries also.

The solution of Question 13 Chapter 7 – Unimax Class 12 Part 1: –

Realisation a/c

Particulars		Amount	Particulars	Amount
To a/c receivable		3,800	By a/cs payable	1,800
To stock		10,000	By cash a/c—
To furniture		2,000	Lease	6,000
To lease		4,000	Furniture	2,200
To cash—-			Stock	9,200
Creditors		1,720	Debtors	3,600
Realisation expenses		128
To profit Trans. To capital a/cs
Naresh	576
Munish	576	1,152

		22,800		22,800

Partner’s capital a/c

Particulars	Y	Z	Particulars	Y	Z
To cash a/c	12,576	8,576	By balance b/d	12,000	8,000
			By realisation a/c (profit)	576	576

	12,576	8,576		12,576	8,576

Cash a/c

Particulars	Amount	Particulars	Amount
To bal. b/d	2,000	By real.a/c—-
To real. a/c—-		Creditors	1,720
Lease	6,000	Expenses	128
Furniture	2,200	Capital
Stock	9,200	Naresh	12,576
Debtors	3,600	Munish	8,576

	23,000		23,000

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Dissolution of a Partnership Firm – its Methods

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Dissolution of a Partnership Firm – its Methods – in Hindi

Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.

Chapter No. 1 – Accounts of Non-Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
Chapter No. 3 – Partnership Accounts – II (Goodwill)
Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
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)

Accountancy – Unimax Class 12 Part 2 – 2021 – Solution.

Chapter No. 1 – Share Capital
Chapter No. 2 – Debentures
Chapter No. 3 – Financial Statements of A Company (Balance Sheet Only)
Chapter No. 4 – Analysis of Financial Statements
Chapter No. 5 – Ratio Analysis
Chapter No. 6 – Cash Flow Statement

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Class +2 – Accounting Books solutions for free

Usha Publication Accountancy Class 12 – Part – 1 – PSEB- Solution

Usha Publication Accountancy Class 12 – Part – 2 – PSEB- Solution

T.S. Grewal’s Book Keeping +2 Part – A Vol. I – Solution

T.S. Grewal’s Book Keeping +2 Part – A Vol. II – Solution

T.S. Grewal’s Book Keeping +2 Part – B – Solution

The solution of Question 13 Chapter 7 – Unimax Class 12 Part 1: –

Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.

Accountancy – Unimax Class 12 Part 2 – 2021 – Solution.

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