Question 14 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 7 of +2- Part
Q-14. - CH-7 - Usha +2 Book 2018 - Solution


Question 14 Chapter 7 of +2-Part-1


14. (Realisation A/c/Partner’s Capital Ne/Cash A/e) A, B and C are partners sharing Profits and Losses equally. They dissolve the firm on 31st March, 2018 on which date their position was as follows:

Liabilities Rs.Assets Rs. 
Capital A/c FIXED ASSETS 1,00,000
A30,000CURRENT ASSETS 40,000
B30,000CASH & bank 10,000
CREDITORS 60,000  
 1,50,000 1,50,000

All the assets realised 10 % less than the book value. Creditors were paid in full. Expenses of Liquidation amounted to Rs. 500 and a contingent liability not provided for at Rs. 500.
(i) Realisation accounts
(ii) Partners capital account
(iii) Cash account

We are providing a solution of Question 14 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 11 to 14 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 14 from the flowing video by using time stamps of the video.


Day 147 Solution of Questions 11 to 14 Dissolution of Partnership Firm Chapter 7 Accounts class 12

2. Check out the Solution of this question in Article Format:-

The solution of Question 14 Chapter 7 of +2 Part-1: –

Realisation A/c
To Fixed Assets 1,00,000By creditors 60,000
To Currents Assets 40,000By Bank A/c  
To Bank A/c  Fixed Assets90,000 
Creditors 60,000Currents Assets36,0001,26,000
Expenses 500By loss on realisation:  
Contingent liability 500A5,000 
  2,01,000  2,01,000
Partners’ Capital Account 
To Realisation A/c5,0005,0005,000By Balance b/d30,00030,00030,000
To Bank A/c25,00025,00025,000    
 30,00030,00030,000 30,00030,00030,000
Bank A/c
To balance b/d 10,000By Realisation A/c 61,000
To Realisation A/c 1,26,000By A’s capital A/c 25,000
   By B’s capital A/c 25,000
   By C’s capital A/c 25,000
  1,36,000  1,36,000

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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