Question 20 Chapter 7 of +2-Part-1
20. (Realisation A/c/Partner’s Capital A/c/Cash A/c) Anju and Manju were trading an a firm sharing profits in the ratio of 9 :7 Firm’s. Balance sheet as on December 31, 2015 is given below :
| Liabilities | Rs. | Assets | Rs. |
| Capitals | Bank | 5,000 | |
| Anju | 3,500 | Debtors | 4,700 |
| Manju | 2,750 | Stock | 2,300 |
| Anju’s current A/c | 300 | Furniture | 50 |
| Creditors | 12,000 | Property | 2,000 |
| Manju’s current A/c | 1,000 | ||
| 18,550 | 18,550 |
Firm was dissolved. Property realised Rs. 1,500. Bad debts amounted to Rs. 500. Stock realised Rs. 200 more than the book value. Furniture was taken over by Manju at Rs. 25. Creditors allowed Rs. 100 discount. Expenses came to Rs. 75.
Close the books of the firm.
We are providing a solution of Question 20 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. 20 from the flowing video by using time stamps of the video.
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The solution of Question 20 Chapter 7 of +2 Part-1: –
| Realisation A/c |
|||||
| Particulars |
Amount | Particulars | Amount | ||
| To Debtors A/c | 4,700 | By Trade creditors | 12,000 | ||
| To Stock A/c | 2,300 | By Bank A/c | |||
| To furniture A/c | 50 | Debtors | 1,500 | ||
| To property A/c | 2,000 | Property | 4,200 | ||
| To Bank A/c | Stock | 2,500 | 8,200 | ||
| Creditors | 11,900 | By Manju’s Capital A/c | 25 | ||
| Expenses | 75 | ||||
| By capital A/c – loss : | |||||
| Anju | 450 | ||||
| Manju | 350 | 800 | |||
| 21,025 | 21,025 | ||||
| Partners’ Capital Account | |||||
| Particulars | Anju | Manju | Particulars | Anju | Manju |
| To current A/c | 1,000 | By Balance b/d | 3,500 | 2,750 | |
| To Realisation A/c | B7y Current A/c | 300 | — | ||
| -loss | 450 | 350 | |||
| -furniture | 25 | ||||
| To Bank A/c | 3,350 | 1,375 | |||
| 3,800 | 2,750 | 3,800 | 2,750 | ||
| Bank A/c |
|||||
| Particulars | Amount | Particulars | Amount | ||
| To balance b/d | 8,500 | By Realisation A/c | |||
| To Realisation A/c | 8,200 | Creditors | 11,900 | ||
| Expenses | 75 | ||||
| By Anju’s capital A/c | 3,350 | ||||
| By Manju’s capital A/c | 1,375 | ||||
| 16,700 | 16,700 | ||||
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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