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Question 19 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 7 of +2- Part
Q-19. - CH-7 - Usha +2 Book 2018 - Solution

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Question 19 Chapter 7 of +2-Part-1

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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 5,000Cash in hand 7,000
Provision for bad debts 500Sundry Debtors 12,000
X’s Capitals A/c15,000Stock 10,000
Y’s Capitals A/c 10,000Furniture 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:

1. Check out the Solution of this question in Video Format:-

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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Day 150 Solution of Questions 19 to 20 Dissolution of Partnership Firm Chapter 7 Accounts class 12

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

The solution of Question 19 Chapter 7 of +2 Part-1: –

Realisation A/c
Particulars
AmountParticularsAmount
To Sundry Debtors A/c 12,000By Trade creditors 5,000
To Stock A/c 10,000By provision for bad debts 500
To furniture A/c 6,500By Cash A/c  
To Cash A/c  Debtors 10,000
Creditors 4,500Furniture 6,000
Expenses 100Stock 11,000
      
   By loss on Realisation:  
   X300 
   Y200 
   Z100600
  33,100  33,100
Partners’ Capital Account  
ParticularsXYZParticularsXYZ
To Realisation A/c – Loss300200100By Balance b/d15,00010,0005,000
        
To Cash A/c14,7009,800 4,900    
 15,00010,0005,000 15,00010,0005,000
Cash Account 
ParticularsAmountParticularsAmount
To balance b/d 7,000By Realisation A/c  
To Realisation A/c  Creditors 4,500
Stock 11,000Expenses 100
Furniture 6,000By X’s capital A/c 14,700
Debtors 10,000By 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.
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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