Solution of Q 38 Dissolution of a Partnership Firm TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 38, Chapter 8 Dissolution of a Partnership Firm, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 38
A and B were partners sharing profits and losses as to 7/11th to A and 4/11th to B. They dissolved the partnership on 30th May, 2021. As on that date their capitals were: A ₹ 7,000 and B ₹ 4,000. There were also due on Loan A/c to A ₹ 4,500 and to B ₹ 750. The other liabilities amounted to ₹ 5,000. The assets proved to have been undervalued in the last Balance Sheet and actually realised ₹ 24,000.
Prepare necessary accounts showing the final settlement between partners.
Solution
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About this solution
This is Chapter 8 Dissolution of a Partnership Firm of TS Grewal Edition 2022-23.
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.
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