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Question 20 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 7 of +2- Part
Q-20. - CH-7 - Usha +2 Book 2018 - Solution

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Question 20 Chapter 7 of +2-Part-1

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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 3,500Debtors 4,700
Manju 2,750Stock 2,300
Anju’s current A/c 300Furniture 50
Creditors 12,000Property 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:

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

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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.

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

The solution of Question 20 Chapter 7 of +2 Part-1: –

Realisation A/c
Particulars
AmountParticularsAmount
To Debtors A/c 4,700By Trade creditors 12,000
To Stock A/c 2,300By cash A/c  
To furniture A/c 50Debtors1,500 
To property A/c 2,000Property4,200 
To Cash A/c  Stock2,5008,200
Creditors 11,900By Manju’s Capital A/c 25
Expenses 75   
      
      
   By capital A/c – loss :  
   Anju450 
   Manju350800
  21,025  21,025
Partners’ Capital Account 
ParticularsAnjuManjuParticularsAnjuManju
To current A/c 1,000By Balance b/d3,5002,750
To Realisation A/c  B7y Current A/c300
-loss450350   
-furniture 25   
To Cash A/c3,3501,375   
 3,8002,750 3,8002,750
Bank A/c
ParticularsAmountParticularsAmount
To balance b/d 8,500By Realisation A/c  
To Realisation A/c 8,200Creditors 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
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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