Solution of Q 41 Dissolution of a Partnership Firm TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 41, Chapter 8 Dissolution of a Partnership Firm, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 41
The partnership between A and B was dissolved on 31st March, 2022. On that date the respective credits to the capitals were A—₹ 1,70,000 and B—₹ 30,000. ₹ 20,000 were owed by B to the firm; ₹ 1,00,000 were owed by the firm to A and ₹ 2,00,000 were due to the Trade Creditors. Profits and losses were shared in the proportions of 2/3 to A, 1/3 to B.
The assets represented by the above stated net liabilities realised ₹ 4,50,000 exclusive of ₹ 20,000 owed by B. The liabilities were settled at book figures. Prepare Realisation Account, Partners’ Capital Accounts and Cash Account showing the distribution to the 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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