Prepare Journal entries and Ledger accounts. (4) An office typewriter, not shown in the books of accounts, realised Rs. Question 3. 400. 15,000 was met. 2,000. 12,000. (B) A, B and C sharing profits in the proportion of 3:2:1 agreed upon dissolutions of their partnership on 31st March, 2018 on which date their balance sheet was as under: The investments are taken over by A for Rs. Question 26. The expenses of realisation amount to Rs. 2,000) of the realised Rs. Loss on Realisation Rs. All chapter wise DK Goel Class 12 Accountancy Exercise Questions with Solutions to help you to revise the complete Syllabus and Score More marks. 18,000.]. 40,000; Q Rs. Dk Goel Accountancy Class 11.pdf - Free Download DK Goel Accountancy Class 11 Solutions Chapter 6 Accounting Equations which are outlined by expert Accountancy teachers from the latest version of DK Goel Class 11 Accountancy books. On that date their respective credits to the Capitals were Rs. Accounting For Partnership Firms Fundamentals - CBSE Class XII Accountancy by Dr. Balbir Singh - Duration: 45:22. 1,000; Debit Bank A/c and Credit Realisation A/c by Rs. The assets realised Rs. 1,50,000 and Rs. Arun, Tarun and Varun shared profits in the ratio of 2:2:1. Free PDF download of DK Goel Solutions for Class 12 solved by Expert Teachers on Vedantu.com. 10,000 which was taken over by A at Rs. 20,000 at Rs. Prepare Partner’s Capital Accounts, Realisation Account, Cash Account, Profit and Loss Appropriation Account and Balance Sheet to close the books of the firm. 15,000 in full settlement. Expenses of dissolution came to Rs. 4,500 and Credit Realisation A/c by Rs. (ii) Investments were taken over by B at 120%. 12,000. Extra Class gives students Free access of DK Goel (2019) questions and their solutions. 5,000. (iv) There will be no entry of Prem taking over furniture as his remuneration. The partners were entitled to interest on capital @ 6% p.a. 10,000 and he was to meet all expenses. 5,00.000 and provision for doubtful debts appeared at Rs. 5,100; Plant & Machinery Rs. 3,00,000; assets are realised at 70% and expenses on realisation are Rs. When a partner, other than the partner filing a suit, has become permanently incapable of performing his duties as a partner. (ii) When expenses of realisation are paid by a partner on behalf of the firm: (Being Remuneration expenses paid by the partner). (iii) Office Equipment was accepted by the creditor for Rs. Question 30. 60,000 were due for Bank Loan and Reserve has been maintained for Rs. He also agreed to pay the Creditors. 12,500 in full and final settlement. (iv) Sundry Debtors realised at 75% and plant realised 20% less. (f) Rs. (A) Following is the Balance Sheet of Deepak and Jyoti, who were sharing profit and losses in the ratio 3:2, as at March 31, 2018: The firm was dissolved on that date and the following arrangements were made: (i) Assets realised as follows: Debtors Rs. (ii) Expenses of realisation Rs. 50,000 from the firm, which was paid fully by him to the firm. 60,000, Rs. 76,000 in full settlement of their claim and the remaining assets were taken over by Vaibhav for Rs. (iv) Angad was paid only Rs. 27,750, Machinery Rs. Students looking for class 11th accountancy help book DK Goel solutions can it from here. We additionally have the funds for variant types and as well as type of the books to browse. (iv) A bill of Rs. Arun was appointed to realise the assets. They decide to dissolve their firm on 31-03-2018, the date on which their Balance Sheet stands as under: The following additional information is given : (1) Investments are taken over by P at book value. How much amount was realised from debtors? 2,000 was untraceable and other creditors accepted payment allowing 10% discount. 20,000. The balance of A's Loan Account to the firm stood at Rs. 2,000. Question 10. 20,000 were paid at 5% discount. Download DK Goel Solutions Class 12 Accountancy Chapter 6 Dissolution of a Partnership Firm pdf, latest solutions for Accountancy latest book, Short Answer QuestionsQuestion 1. They agreed to dissolve the firm on June 30, 2018. X, Y and Z are in partnership, sharing profits and losses equally. Question 7. Goyal Bros. Prakashan - Video Lectures 168,989 views 45:22 class 12 Dk goel NPO - Financial Statements of Not-for-Profit Organisations Solutions 2018 ... Not satisfied with the answer u should provide complete solution of every chapter. 1,000; Debtors Rs. 32,000 and the amount owed by the firm to Y was Rs. Hint. 3,000 were paid by Srijan. Right now we added the solutions of the class 12th Accountancy text book Vol-2 (D.K. A and B were partners sharing profits and losses in 2:1. The various assets (other than cash) and outside liabilities have been transferred to Realisation Account: (i) James agreed to pay off his brother's loan Rs. (iii) Realisation expenses of Rs. 32,000. Also show the Bank Account.’. Expenses of realisation were Rs. 3,00,000 was paid along with interest of Rs. The expenses of dissolution Rs. 2,000. Question 55. On 31st March, 2017 their Balance Sheet was as follows: On the above date they decided to dissolve the firm. 10,000 by A Rs. 10,000 was received from a customer Mr. Surender Kumar and the bill was discounted from the bank. 17th Edition â¹495. A, B and C were partners from 1st April, 2016 with capitals of Rs. 35,000 was settled at Rs. Question 38. (vi) Realisation expenses amounting to Rs. 600. Click here to download NCERT Solutions for questions of Class 12 Accountancy NCERT Book. (2) There were outstanding expenses amounting to Rs. (iii) Half the creditors agreed to accept furniture of the firm in full settlement of their claim and remaining half agreed to accept 5% less. Question 49. 4,000 were paid by the firm. 2,600 and Debtors amounting to Rs.40,000 at Rs. There was a contingent liability amounting to Rs. [Ans. Arun was to receive 5% commission on the sale of assets (except cash) and was to bear all expenses of realisation. When a partner has become of unsound mind. (iii) Other assets realised: Plant : Rs. LearnCBSE.in provided chapter wise detailed solution to the question of the NCERT (National Council of Educational Research and Training ) textbooks. Remaining assets realised Rs. 1,800. P, Q , and R were partners in a firm sharing profits in the ratio of 1:2:2. Prepare Realisation Account, Capital Accounts and Bank Account. 3,000. Rs. When a partner, other than the partner filing a suit, wilfully or persistently commits breach of partnership agreement. 2,000. (vi) An amount of Rs. Accounts were finally settled. P, Q and R started business on 1st April, 2017. 90,000. Features Added: ðï¸ Chapters Indexed ð Chapter-wise Solved Questions ð â¦ Furniture was taken over by Fox at Rs. (2) Stock was taken over by X for Rs. X and Y were partners in a firm sharing profit and losses in the ration of 5:3. (vi)Firm had to pay Rs.40,000 asw Workmen Compensation. The expenses of realisation were Rs. (v) Mrs. Rita Chowdhary took over the goodwill of the firm at a valuation of Rs. Sundry Creditors allowed a discount of 5%. Half the stock was sold at 10% less than the book value and the remaining half was taken over by A at 20% more than the book value. Question 60. The remaining debtors realise 50% of book value. (vi) Realization expenses amounted to Rs. 3,50,000 by paying cash. Dk Goel Accountancy Solution 12 Class Dk Goel Accountancy Solution 12 Thank you completely much for downloading Dk Goel Accountancy Solution 12 Class.Most likely you have knowledge that, people have look numerous period for their favorite books gone this Dk Goel Accountancy Solution 12 Class, but end going on in harmful downloads. Also download collection of CBSE books... Download Class 12 Accountancy assignments. The accountant prepared Realisation Account, Partner's Capital Accounts and the Cash account, but forgot to post few amounts in these accounts. 49,000; Cash brought in by A Rs. 1,20,000 were due to creditors. Pass necessary Journal Entries on the dissolution of a partnership firm in the following cases : (i) L, a partner, was appointed to look after the dissolution process for which he was given a remuneration of Rs. Dk Goel Accountancy Class 11 Tmolly De. 20,000 and goodwill of Rs. On that date, the Capitals of X and Y were Rs. 5,000. [Ans. 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