# Question 17 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-17. - CH-7 - Usha +2 Book 2018 - Solution

Question 17 Chapter 7 of +2-Part-1

17. (Journal/Realisation A/e/Partner’s Capital A/c/Cash A/e) A, B and C decided to dissolve partnership. The position as on 31st December 2015, the date of dissolution was as follows

 Liabilities Rs. Assets Rs. Creditors 2,750 Furniture 50 A’s loan A/c 300 Stock 1,750 Capitals Debtors 2,400 A 1,000 Bills receivable 300 B 500 Cash 100 C 50 4,600 4,600

They shared profits and losses in the ratio of A 1/2: B 3/10 and C 1/5. Rs. 200 of the debtors proved bad: the bills receivable were paid in full; the stock realised Rs. 1,700; furniture was taken over by B at book value and the expenses of realisation amounted to Rs. 200.
Close the books of the firm.

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## The solution of Question 17 Chapter 7 of +2 Part-1: –

 Realisation A/c Particulars Amount Particulars Amount To Stock 1,750 By creditors 2,750 To Debtors 2,400 By Bank A/c To bills receivable 300 Debtors 2,200 To Furniture A/c 50 Bills receivable 300 To Cash Stock 1,700 4,200 Creditors 2,750 By B’s capital A/c 50 Expenses 200 By capital A/c – loss : A 225 B 135 C 90 450 7,450 7,450
 Partners’ Capital Account Particulars A B C Particulars A B C To realisation A/c 50 By Balance b/d 1,000 500 50 To realisation A/c 225 135 90 By cash 40 To Cash A/c 775 315 1,000 500 90 1000 500 90
 Cash Sheet Particulars Amount Particulars Amount To balance b/d 100 By Realisation A/c 2,950 To Realisation A/c 4,200 By A’s capital A/c 775 To C’s capital A/c 40 By B’s capital A/c 315 By A’s loan A/c 300 4,340 4,340

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