[ISC] Q. 6 Solution of Dissolution of Partnership Firm TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 6, Chapter 6 Dissolution of Partnership Firm, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 6
Angad, 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 partner had given loan to the firm of ₹ 20,000. It was paid to him on the date of dissolution.
- (iv) An unrecorded investment existed of ₹ 5,000.
- (v) A contingent liability (not provided for) of ₹ 5,000 was discharged.
Solution
All questions of Chapter 6
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About this solution
This is Chapter 6 Dissolution of a Partnership Firm of ISC TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.
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