Solution of Q 42 Dissolution of a Partnership Firm TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 42, Chapter 8 Dissolution of a Partnership Firm, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 42
X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March, 2022. On that date, their Capitals were X—₹ 40,000 and Y—₹ 30,000. Creditors amounted to ₹ 24,000.
Assets were realised for ₹ 88,500. Creditors of ₹ 16,000 were taken over by X at ₹ 14,000. Remaining Creditors were paid at ₹ 7,500. The cost of realisation came to ₹ 500.
Prepare necessary accounts.
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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