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

Question 17 Chapter 7 of +2- Part
Q-17. - CH-7 - Usha +2 Book 2018 - Solution

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Question 17 Chapter 7 of +2-Part-1

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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 2,750Furniture 50
A’s loan A/c 300Stock 1,750
Capitals  Debtors 2,400
A1,000Bills receivable 300
B500Cash 100
C50  
    
 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.

We are providing a solution of Question 17 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:-

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The video consists solution of question numbers from 17 to 18 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 17 from the flowing video by using time stamps of the video.

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

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

Realisation A/c
Particulars
AmountParticularsAmount
To Stock 1,750By creditors 2,750
To Debtors 2,400By Bank A/c  
To bills receivable 300Debtors2,200 
To Furniture A/c 50Bills receivable300 
To Cash  Stock1,7004,200
Creditors 2,750By B’s capital A/c 50
Expenses 200   
      
      
   By capital A/c – loss :  
   A 225 
   B 135 
   C90450
  7,450  7,450
Partners’ Capital Account  
ParticularsA B CParticularsA B C
To realisation A/c 50 By Balance b/d1,00050050
To realisation A/c22513590By cash  40
        
        
To Cash A/c775315     
 1,00050090 100050090
Cash Sheet
ParticularsAmountParticularsAmount
To balance b/d 100By Realisation A/c 2,950
To Realisation A/c 4,200By A’s capital A/c 775
To C’s capital A/c 40By B’s capital A/c 315
   By A’s loan A/c 300
      
  4,340  4,340

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

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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