Question 1

Q.No.1 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionHemant and Pankaj were partners sharing profits and losses in the ratio of 3 : 2. The firm was dissolved on 31st March, 2025 and the following balances were appearing in the books of the firm: (a) Hemant's Loan ₹ 80,000; (b) Ruby's Loan ₹ 50,000; (c) Creditors ₹ 1,00,000; (d) Capital balances after all adjustments — Hemant ₹ 1,60,000 and Pankaj ₹ 1,40,000. Assets of the firm realised at ₹ 6,00,000.You are required to show the amounts and order of payments as per Section 48 of the Indian

Question 2

Q.No.2 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPass the necessary Journal entries for the following transactions on dissolution of a firm of partners Kamal and Ranjan:(i) Dissolution expenses paid ₹ 6,500. (ii) Pankaj, an old customer, whose account for ₹ 25,000 was written off as Bad Debt in the previous year, paid 50%. (iii) Stock of ₹ 5,000 transferred to the Realisation Account was taken by partner Kamal. (iv) Creditors, transferred to the Realisation Account, were paid ₹ 8,000. (v) Investment (Book value ₹ 10,000) realised at 15

Question 3

Q.No.3 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionWhat Journal entries would be passed in the books of Raja and Nawab, sharing profits and losses in the ratio of 5 : 2, for the following transactions on the dissolution of a firm, after various assets (other than cash) and third party liabilities have been transferred to Realisation Account?(i) Bank Loan ₹ 25,000 is paid. (ii) Stock of ₹ 10,000 is taken by partner Raja. (iii) Expenses on dissolution of ₹ 5,000 were paid by Nawab. (iv) A typewriter written off in the books of account was

Question 4

Q.No.4 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPass the necessary Journal entries with respect to Stock (Book value: ₹ 60,000) and Creditors (Book value: ₹ 70,000) on the dissolution of the firm, assuming that these have already been transferred to Realisation Account.(i) Shyam, a partner, took 40% of total stock at 20% discount. (ii) 30% of total stock was taken by a creditor of ₹ 30,000 at 10% discount. (iii) Remaining stock was sold at a profit of 25%. (iv) Remaining creditors were paid at a discount of 10%.SolutionNote: Stock and

Question 5

Q.No.5 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAngad, Raman and Harish were partners in a firm. They decided to dissolve their firm. Pass necessary Journal entries for the following after various assets (other than Cash and Bank) and third party liabilities have been transferred to Realisation Account.(i) There was a balance of ₹ 21,000 in the General Reserve on the date of dissolution. (ii) Deferred Revenue Advertisement Expenditure existed at ₹ 9,000. (iii) Angad, one of the partners, had given a loan to the firm of ₹ 20,000. It wa

Question 6

Q.No.6 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionGagan, Sudan and Madan are partners in a firm. Pass necessary Journal entries for the following transactions at the time of dissolution of the firm:(i) Realisation Expenses ₹ 10,000 paid. (ii) Realisation Expenses amounted to ₹ 5,000. Gagan, a partner, was to bear these expenses. (iii) Sudan, a partner, took a machine for ₹ 20,000. (iv) Madan, a partner, agreed to settle the creditor of ₹ 30,000 for ₹ 20,000. (v) Gagan, a partner, had given a loan to the firm of ₹ 50,000. It was paid bac

Question 7

Q.No.7 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionPass the Journal entries for the following transactions at the time of dissolution:(i) Realisation expenses of ₹ 5,000 paid by the firm which were to be borne by Aman, a partner. (ii) Realisation expenses of ₹ 6,000 were paid by Ramesh, a partner. (iii) Realisation expenses were ₹ 14,000; ₹ 8,000 were to be borne by the firm and the balance by Sanjay, a partner. The expenses were paid by Sanjay. (iv) Realisation expenses paid by the firm were ₹ 30,000. Out of the said expenses, ₹ 22,000

Question 8

Q.No.8 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionNisha, Kamal and Vijay had an automobile spare parts business. Due to uncertain situation, the partners were unable to take collective decisions for the growth of the business. As a result, the firm has been in losses for the last 3 years. The partners decided to dissolve the firm. The following transactions took place at the time of dissolution:(i) Shiv, a creditor, to whom ₹ 6,000 were due, accepted office equipment at ₹ 4,000 and the balance was paid to him. (ii) Investment, which app

Question 9

Q.No.9 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionHanif and Jubed were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2026, their Balance Sheet was as follows:Balance Sheet of Hanif and Jubed as at 31st March, 2026
Liabilities

₹
Assets
₹

Sundry Creditors

1,50,000
Bank
2,00,000

Workmen Compensation Reserve

3,00,000
Sundry Debtors
3,40,000

General Reserve

75,000
Stock
1,50,000

Hanif's Current A/c

25,000
Furniture
4,60,000

Capital A/cs:

Machinery
8,20,000

Hanif
10,00,000

Jubed's Current Acco

Question 10

Q.No.10 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionShanti and Satya were partners in a firm sharing profits in the ratio of 4 : 1. On 31st March, 2026, their Balance Sheet was as follows:Balance Sheet of Shanti and Satya as at 31st March, 2026
Liabilities

₹
Assets
₹

Sundry Creditors

45,000
Bank
55,000

Workmen Compensation Fund

40,000
Sundry Debtors
60,000

Satya's Current Account

65,000
Stock
85,000

Capital A/cs:

Goodwill
60,000

Shanti
2,00,000

Furniture
1,00,000

Satya
1,00,000
3,00,000
Machinery
70,000

Shanti's Current A

Question 11

Q.No.11 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionSindhu, Rahul and Kamlesh are partners sharing profits in the ratio of 5 : 3 : 2. They dissolved the firm on 1st April, 2026 when their Balance Sheet was as follows:Balance Sheet of Sindhu, Rahul and Kamlesh as at 1st April, 2026
Liabilities

₹
Assets
₹

Capital A/cs:

Building
20,000

Sindhu
24,000

Plant
44,000

Rahul
17,200

Stock
12,000

Kamlesh
20,800
62,000
Sundry Debtors
10,000

General Reserve

6,000
Accrued Interest
2,000

Employees' Provident Fund

6,000
Cash at Bank
8,000

Su

Question 12

Q.No.12 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionHarsh, Swarn and Tarun were in a partnership sharing profits and losses equally. Their Balance Sheet as at 31st March, 2022 was as under:Balance Sheet of Harsh, Swarn and Tarun as at 31st March, 2022
Liabilities

₹
Assets
₹

Capital A/cs:

Machinery
80,000

Harsh
1,00,000

Furniture
50,000

Swarn
1,00,000

Debtors
20,000

Tarun
1,00,000
3,00,000
Investments
60,000

Creditors

90,000
Bills Receivable
10,000

Bills Payable

10,000
Stock
1,00,000

Cash at Bank
80,000

Total

4,00,000
To

Question 13

Q.No.14 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionThe Balance Sheet of a firm as at 31st March, 2023 was as under:Balance Sheet as at 31st March, 2023
Liabilities
₹
Assets
₹

Simran's Capital
50,000
Machinery
80,000

Pooja's Capital
40,000
Investments
20,000

Shweta's Capital
30,000
Sundry Debtors
10,000

Sundry Creditors
20,000
Cash at Bank
30,000

Profit and Loss A/c
15,000
Stock
15,000

Total
1,55,000
Total
1,55,000
The partnership was dissolved on the above date. You are given the following information about dissolution: (i) Simran

Question 14

Q.No.15 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionAngad and Bishan are equal partners of a firm, the Balance Sheet of which is given below as at 31st March, 2022, the date on which they decide to dissolve the partnership:Balance Sheet of Angad and Bishan as at 31st March, 2022
Liabilities

₹
Assets
₹

Capital A/cs:

Investments
90,000

Angad
1,00,000

Machinery
30,000

Bishan
80,000
1,80,000
Furniture
24,000

General Reserve

16,000
Debtors
16,000

Loan by Angad

6,000
Stock
48,000

Creditors

28,000
Bank
22,000

Total

2,30,000
Total

Question 15

Q.No.16 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionDesh, Prem and Azad, carrying on business and sharing profits and losses in the ratio of 2 : 2 : 1, dissolved their firm as at 31st March, 2023, on which date their Balance Sheet was as follows:Balance Sheet of Desh, Prem and Azad as at 31st March, 2023Liabilities₹Assets₹Sundry Creditors41,500Cash at Bank22,500Bills Payable20,000Stock80,000Bank Loan40,000Debtors50,000General Reserve50,000Less: Provision for Doubtful Debts2,50047,500Investments Fluctuation Reserve40,000Investments55,000Ca

Question 16

Q.No.18 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionNeha, Anita and Sonia were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2023, their Balance Sheet was as follows:Balance Sheet of Neha, Anita and Sonia as at 1st April, 2023Liabilities₹Assets₹Capital A/cs:Cash at Bank24,400Neha30,000Debtors16,000Anita24,000Less: Provision for Doubtful Debts40015,600Sonia12,00066,000Stock12,000Reserve15,000Furniture4,000Creditors24,000Building44,000Advertisement Suspense5,000Total1,05,000Total1,05,000The firm was dissolved

Question 17

Q.No.19 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionDipali and Rajashri are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decided to dissolve their firm on 31st March, 2023, when their Balance Sheet was as follows:Balance Sheet of Dipali and Rajashri as at 31st March, 2023
Liabilities

₹
Assets
₹

Capital A/cs:

Freehold Property
16,000

Dipali
17,500

Investments
4,000

Rajashri
10,000
27,500
Sundry Debtors
2,000

Sundry Creditors

2,000
Stock
3,000

Profit and Loss A/c

1,500
Bank
2,000

Cash
4,000

Total

Question 18

Q.No.20 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionArman, Naresh and Atil are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They dissolved the firm on 31st March, 2023. Following is the Balance Sheet on the date of dissolution:Balance Sheet of Arman, Naresh and Atil as at 31st March, 2023
Liabilities

₹
Assets
₹

Capital A/cs:

Goodwill
60,000

Arman
1,80,000

Machinery
2,50,000

Naresh
1,20,000

Furniture
30,000

Atil
60,000
3,60,000
Stock
1,00,000

Bank Loan (including interest of ₹ 3,000)

60,000
Debtors
60

Question 19

Q.No.21 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionRitvik, Shom and Mohit were in partnership sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 was as follows:Balance Sheet of Ritvik, Shom and Mohit as at 31st March, 2023
Liabilities

₹
Assets
₹

Capital A/cs:

Building
60,000

Ritvik
72,000

Plant
1,32,000

Shom
51,600

Stock
36,000

Mohit
62,400
1,86,000
Computers
37,200

Reserve

18,000
Debtors
30,000

Employee's Provident Fund

18,000
Accrued Commission
6,000

Provision for Depreciation

Question 20

Q.No.22 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Sarbjit Singh · Accepted Answer

QuestionThe following was the Balance Sheet of Kamal, Akash and Pritam as at 31st March, 2023:Balance Sheet of Kamal, Akash and Pritam as at 31st March, 2023
Liabilities

₹
Assets
₹

Creditors

1,50,000
Bank
60,000

Bills Payable

30,000
Debtors
90,000

Loan by Akash

24,000
Stock
60,000

Loan by Raman

36,000
Furniture
45,000

General Reserve

60,000
Land and Building
7,35,000

Capital A/cs:

Akash's Capital
60,000

Kamal
3,00,000

Pritam
4,50,000
7,50,000

Total

10,50,000
Total
10,50,00

Item	Working	Amount (₹)
Amount available (assets realised)		6,00,000
1st: Debts to outsiders — Creditors ₹ 1,00,000 + Ruby's Loan ₹ 50,000		1,50,000
Balance	6,00,000 − 1,50,000	4,50,000
2nd: Partner's advance (loan) — Hemant's Loan		80,000
Balance	4,50,000 − 80,000	3,70,000
3rd: Partners' capital — Hemant ₹ 1,60,000 + Pankaj ₹ 1,40,000		3,00,000
Balance (surplus) shared in the profit-sharing ratio 3 : 2	3,70,000 − 3,00,000	70,000
Hemant (3/5) / Pankaj (2/5)	70,000 × 3/5; 70,000 × 2/5	42,000 / 28,000

T.S. Grewal ISC Class 12 Accountancy Solutions Chapter 6 - Dissolution of Partnership Firm

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Q.No.1 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Question

Solution

Order of payment (Section 48)

Q.No.2 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Q.No.3 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Q.No.4 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Q.No.5 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

Q.No.6 | Chapter 6 – Dissolution of Partnership Firm | T.S. Grewal ISC Class 12 Solution

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