Question 19 Chapter 7 of +2-Part-1
19. (Realisation A/e/Partner’s Capital A/e/Cash A/e) X, Y and Z Captal were in partnership sharing profits and losses as 3 :2 :1. The Balance sheet as at 31 December 2016 as follows :
| Liabilities | Rs. | Assets | Rs. |
| Trade Creditors | 5,000 | Cash in hand | 7,000 |
| Provision for bad debts | 500 | Sundry Debtors | 12,000 |
| X’s Capitals A/c | 15,000 | Stock | 10,000 |
| Y’s Capitals A/c | 10,000 | Furniture | 6,500 |
| Z’s Capitals A/c | 5,000 | ||
| 35,500 | 35,500 |
They decided to dissolve the firm on the same day The assets realised and liabilities were paid as follows :
Trade creditors settled for Rs. 4,5000
Stock Rs. 11,000
Furniture Rs.6,000
Sundry Debtors Rs. 10,000
Expenses on Realisation were Rs. 100
Show the realisation amount, partners’ capital accounts and cash account.
We are providing a solution of Question 19 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:
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The video consists solution of question numbers from 19 to 20 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 19 from the flowing video by using time stamps of the video.
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The solution of Question 19 Chapter 7 of +2 Part-1: –
| Realisation A/c |
|||||
| Particulars |
Amount | Particulars | Amount | ||
| To Sundry Debtors A/c | 12,000 | By Trade creditors | 5,000 | ||
| To Stock A/c | 10,000 | By provision for bad debts | 500 | ||
| To furniture A/c | 6,500 | By Cash A/c | |||
| To Cash A/c | Debtors | 10,000 | |||
| Creditors | 4,500 | Furniture | 6,000 | ||
| Expenses | 100 | Stock | 11,000 | ||
| By loss on Realisation: | |||||
| X | 300 | ||||
| Y | 200 | ||||
| Z | 100 | 600 | |||
| 33,100 | 33,100 | ||||
| Partners’ Capital Account | |||||||
| Particulars | X | Y | Z | Particulars | X | Y | Z |
| To Realisation A/c – Loss | 300 | 200 | 100 | By Balance b/d | 15,000 | 10,000 | 5,000 |
| To Cash A/c | 14,700 | 9,800 | 4,900 | ||||
| 15,000 | 10,000 | 5,000 | 15,000 | 10,000 | 5,000 | ||
| Cash Account |
|||||
| Particulars | Amount | Particulars | Amount | ||
| To balance b/d | 7,000 | By Realisation A/c | |||
| To Realisation A/c | Creditors | 4,500 | |||
| Stock | 11,000 | Expenses | 100 | ||
| Furniture | 6,000 | By X’s capital A/c | 14,700 | ||
| Debtors | 10,000 | By Y’s capital A/c | 9,800 | ||
| By Z’s capital A/c | 4,900 | ||||
| 34,000 | 34,000 | ||||
Comment if you have any questions.
End of Solution
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Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
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Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)
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)
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication
- Chapter No. 1 – Accounts of Non-Profit Organisations (Deleted from the Syllabus)
- 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)
Check out Part 2 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 2 Class 12 by Unimax Publication
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