Question 21 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 7 of +2- Part
Q-21 - CH-7 - Usha +2 Book 2018 - Solution


Question 21 Chapter 7 of +2-Part-1


21. (Realisation A/c/Bank A/c/Capital A/e) A and B are partners in 2:1 ratio. They dissolved their business on 30th Sept, 2018.

Liabilities Rs.Assets Rs. 
Capitals  Cash at bank 8,000
A35,000Stock 12,000
25,000Debtors   30,000 
A’s current A/c 13,000Provision     2,00028,000
General Reserve6,000Furniture 13,000
Creditors 21,000Machinery 40,000
Bills payable 1,000  
 1,01,000 1,01,000

Stock was taken over by A at 20% less Furniture and Machinery realised at book value Bad debts were Rs. 4,000. Expenses of dissolution were Rs. 3,000, of this half were paid by Bills payable and creditors were settled at Rs. 2,000 discount.
Show Realisation Account, Bank Account and Capital Account .

We are providing a solution of Question 21 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 21 to 22 Chapter no. 7 class 12 of Usha publication. To check the direct solution of question no. 21 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 21 Chapter 7 of +2 Part-1: –

Realisation A/c
To Stock A/c 12,000By provision for bad debts 2,000
To Debtors A/c 30,000By creditors 21,000
To furniture A/c 13,000By Bills payable 1,000
To machinery A/c 40,000By A’s Capital A/c – Stock 9,600
To Cash A/c  By bank A/c  
Creditors1,500 Debtors26,000 
Expenses19,000 Furniture13,000 
Bills payable1,00021,500Machinery40,00079,000
To B’s Capital A/c – Expense 1,500   
   By capital A/c – loss :  
  1,18,000  1,18,000
Partners’ Capital Account 
To Realisation A/c  By Balance b/d35,00025,000
 -stock9,600By current A/c13,000 
-loss3,6001,800By Realisation A/c 1,500
   By general reserve4,0002,000
To Cash A/c38,80026,700   
 52,00028,500 52,00028,500
Bank A/c
To balance b/d 8,000By Realisation A/c  
To Realisation A/c -Assets realised 79,000Expenses 1,500
   Creditors & bills payable 20,000
   By A’s capital A/c 38,800
   By B’s capital A/c 26,700
  87,000  87,000

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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

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm



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