(iii) Workmen Compensation Reserve stood at Rs. 12,500 and Goodwill Rs. All other liabilities were paid off at their book value. [Ans. The assets realised were as follows: (i) Bills Receivable were realised at a discount of 5%. Prepare Realisation Account, Capital Accounts and Cash Account. A and B shared profits in the ratio of 7 : 3. The remaining debtors realise 50% of book value. (vi)              Realisation expenses were Rs. DK Goel Accountancy Class 12 Account Solutions Vol-1 - Chapter 5 - Part - 2 is contemplated to be the most helpful study resource for the students pursuing their Class 12th. These were paid at a discount of 2%. Realisation of Building will be recorded at the net amount of Rs. The questions provided in DK Goel (2019) Books are prepared in accordance with CBSE, thus holding higher chances of appearing on CBSE question papers. 1,50,000 and Rs. Question 16. Prepare realisation and Cash account. 6,000. How much amount was realised from debtors? 90,000 and remaining stock was sold for Rs. (ii) Furniture was sold at 25% of book value. (A)               Pritam and Naresh decided to dissolve their firm on September 30,2018, when the Balance Sheet stood as follows: The assets were realized as follows: Stock Rs. Question 7. Pass necessary journal entries for dissolution of the firm. In this article we will share the most effective ways to make the answers to the CBSE... BRICSMATH.COM is an annual International Online Competition in Mathematics, for students of classes I – XII of 07 BRICS countries (Brazil, Russia, India, China and South Africa, Indonesia and Vietnam). Out of the remaining amount, the loans advanced by partners will be paid off. (3) A B/R for Rs. 30,000, Rs. The balance of A's Loan Account to the firm stood at Rs. 3,55,000. 3,00,000; Rs. Srijan was to receive 5% commission on sale of assets (except cash) and was to bear all expenses of realisation. 3,00,000) was sold for Rs. 1,250. Book dk goel accounts book class 12 solutions pdf Book Read / Download Online Download dk goel accounts book class 12 solutions pdf Getting the screenshots prepared is a good approach that might time savings. Their assets and liabilities on 1st October, 2018, the date on which they decided to wind up their affairs, were as follows: Office Fixtures 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. (iii) Investments were realised at 95% of the book value. DK Goel Solutions Class 11, DK Goel Solutions Accountancy PDF DK Goel Class 12 Accountancy textbook solutions furnish a wide range of solutions that certainly helps the students to analyse, understand and solve them. 25,000. (iii) General Reserve appearing in the balance sheet was Rs. NCERT Class 12 Accountancy Books in English PDF Download. 12,000 was recovered from a debtor which was written off as Bad debts last year. Question 64. Some of the special features of the book are : Prepare the Realisation Account and Partners' Capital Accounts. 1,50,000. On 31st March, 2018 their firm was dissolved. Download all VBQ for Class 12 Accountancy in pdf free. Pass necessary Journal Entries for the following after various Assets (other than Cash and Bank) and the third party liabilities have been transferred to Realisation Account: (a) An old typewriter which was not recorded in the books was sold for Rs. 4,000. However, the expenses were to be borne by partner X for which he was to be given a commission of 5% on net cash realised on dissolution. 32,000 and the amount owed by the firm to Y was Rs. P and Q  were partners in a firm sharing profits and losses equally. Michael Jackson and John were partners in a firm sharing profits in the ratio of 3: 1: 1. Usually most of the students tend to become nervous at the times of the board examination. (vi) Question 's Loan was settled by payment of Rs. 12,000. He was allowed a discount of 5% for making payment immediately. 2,00,000; Creditors were paid at a discount of 10% and the expenses of dissolution were Rs. Firm paid an expense of Rs. 1,00,000; Truck – Rs. 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. 20,000. 1,62,000. (3)    Creditors were paid off at a discount of 5%. Commission on auction was Rs. (iv) Workmen Compensation Reserve stood at Rs. 17th Edition ₹495. Actual realisation expenses amounted to Rs. 80,000 and Rs. Accountancy (Part-A) Vol-I, Class- XII Average rating Read all reviews. Furniture was taken over by Fox at Rs. Class 11 Accountancy Solutions by DK Goel chapter-wise are available which are free for all users to download as a PDF or to view online. 50,000 took over Land and Building in full settlement of their claim; (ii) Remaining creditors were paid in cash; (iii) Machinery was sold at a depreciation of 30%; (iv) Debtors were collected at a cost of Rs. (d) Liability on account of outstanding salary not recoded in the books, amounting to Rs. Prepare the necessary ledger accounts to close the books of the firm. You are given the following information about dissolution: (a) Office Equipment was accepted by a creditor for Rs. (ii) Leasehold Premises realised Rs. 10,500, Debtors                                 Rs. The expenses of dissolution Rs. (v) Expenses of realisation were Rs. The partners were entitled to interest on capital @ 6% p.a. Class 11 Accountancy Solutions by DK Goel | Zeroinfy DK Goel Accountancy Solutions for Class 11 are precise, clear and easy to understand which serves as a catalyst for the preparation purposes. Actual Expenses amounted to Rs. 30,000; Bills Payable Rs. X agreed to take over the Stock-in-trade at a discount of 10% and pay off the Bills Payable. (vi) Dissolution expenses were Rs. 700. Question 19. Mohan and Shyam are partners in a firm. Keyword Ranking Analysis For DK GOEL CLASS 11 ACCOUNTANCY. Arnab, Ragini and Dhrupad were partners sharing profits in the ratio of 3 : 1 : 1 On 31st March, 2015, they decided to dissolve their firm. 8,000 and X took over Bills Receivable at 20% discount. Question 58. When a partner, other than the partner filing a suit, is guilty of misconduct that may harm the partnership. [Ans. The various assets were realised and liabilities were settled as under: (i) Garima agreed to pay her husband's loan. 68,000 by auction and auctioneer's commission amounted to Rs. On dissolution, bad debte were Rs. 5,000. 40,000. 10,000. Access NCERT Solutions for Class 12 Accountancy. 6,000 by auction and auctioneer's commission amounted to Rs. 5,000. Expenses of realisation amount to Rs. 1,25,000 took over stock and debtors in full settlement of their claim; (iii) Remaining creditors were paid by Richa; (iv) Furniture realised Rs. and. 100 per share. 1,900 by A Rs. Question 61. Question 12. Question 1. 3.) interest is to be credited to each partner on his capital. A creditor for Rs. 5,000. On 31.3.2018 their Balance Sheet was as follows: (i) Creditors of Rs. 2,600 to be assumed by Panna Lal at that figure. Question 44. Free PDF of DK Goel Solutions Class 12 Accountancy chapterwise Solutions prepared by Subject Experts on Vedantu.com. DK Goel Solutions for Class 11 Accountancy Chapter 6 Accounting Equations Q.4 What entry (debit or credit) would you make to (a) increase in revenue (b)decrease in expense (c) record drawing (d) record the fresh capital introduced by owner. 1.) 5,000 (in full settlement) for his loan to the firm which amounted to Rs. One click PDF Download 80,000 and Cash balance was Rs. Your email address will not be published. Question 22. 10 each in DCM Ltd. acquired at a cost of Rs. 3,500 not brought into the accounts matured and had to be met. (f) There was an old furniture which has been written off completely from the books. (b) Geta took over the goodwill for her own business at Rs. 3. (iv) Building was auctioned for Rs. 2,82,000 and remaining investment realised Rs. 2,10,500.]. 75,000 and Land and Buildings Rs. Pritam agreed to pay his wife's loan Naresh agreed to pay outstanding rent. (ii) Firm had to pay Rs. They agreed to dissolve the firm. The DK Goel Accountancy Solutions for class 12 including both Volume 1 & Volume 2 have been provided here for the students to understand the concept well & score better marks in the exam. (ii) Deepak agreed to take over stock in full settlement of his wife’s loan. Their capitals stood at Rs. (iii) Office Equipment was accepted by the creditor for Rs. 5,000. Angad, Raman and Harshit were partners in a firm. You are required to prepare the Realization Account, Read the latest news and announcements from NCERT and CBSE below. 1,800. (v) 50% of the stock was taken over by Ragini at market price which was 20% less than the book value and the remaining was sold at market price. Half the shares were sold in the market and the balance half were taken over by P and Question  in their profit sharing ratio. (v) Profit and Loss Account showed a debit balance of Rs. Their Balance Sheet as at 31st March, 2018 was as follows: Partners decide to dissolve the firm on the above date. 13,000. Question 27. (iii) Other assets realised: Plant : Rs. 10,000 which was taken over by A at Rs. 15,000 in full settlement. Question 60. 15,000. In this modern world everyone is looking for e-books because it is very handy and you can easily carry it in your cell phones or laptops. (iv) All Debtors were realised at full value. (iii)               Sundry Creditors were paid out at a discount of 10 per cent Bills payable were paid in full. 80,000, Karan took over 50% of the stock at a discount of 20% while the remaining stock was sold off at a profit of 30% on cost. Question 54. 5,000 at Rs. On 15th March,2014 the firm was dissolved. B had lent to the firm in addition to Capital Rs. Question 11. 20,000 at Rs. Pass the necessary journal entries for the following transactions on the dissolution of the firm of James and Haider who were sharing profits and losses in the ratio of 2 : 1. 5,500; Plant Rs. 20,000. 2,000 were paid by Susan on behalf of the firm. 75,000. Debtors were all good; Stock realised Rs. 12,000. Remuneration The stock had already been transferred to Realisation Account. (vi) Expenses of realisation amounting to Rs. 2,000. 1,00,000 and the remaining debtors were realised at 10% discount. 15,000 as remuneration. Scroll down for Accounting for Not-for-profit Organisation from NCERT Book Class 12 Accountancy Book & important study material. These shares are valued at Rs. Anurag and Prem were partners sharing profits and losses in 2 : 1. (4) Commission received in advance was returned to the customers after deducting 60% for work done. 54,000, balance of the stock was sold off at a profit of 30 per cent on cost. Question 28. (4) An office typewriter, not shown in the books of accounts, realised Rs. 5,000. Actual dissolution expenses Rs. 25,000, for which a commission of 2% was paid to the broker. (ii) Part of the stock was sold for Rs. Question 3. 600. 1,50,000 respectively. Prepare Realisation Account, Bank Account and Partners' Capital Accounts. 2,000. A realised the assets as follows:- Full amount from Sundry Debtors and B/R except from one for Rs. (iii) Sundry Creditors were paid off by giving them stock at 75% of the book value and the balance in cash. In the first year ending on 31st March, 2018, a loss of Rs. The following is the Balance Sheet of A and B as at 31st March, 2018. Prepare (a) Realisation A/c, (b) Capital Accounts of Partners, (c) Bank Account to close the Books of the firm. Clarify the difference between dissolution of a firm and dissolution of partnership. They decide to dissolve their firm. The liabilities and other particulars of the firm on that date were as follows: Creditors                                                   40,000, Ashok’s Capital                                       1,00,000, Kishore’s Capital                                      10,000 (Dr. Balance), Profit and Loss Account                               8,000 (Dr. Balance), Realisation Expenses were                               1,00. (iv) Debit Realisation A/c and Credit Bank A/c by Rs. 1,24,910 and expenses of dissolution were rs. 4,00,000 through a broker who charged 2% commission. (iv)              Plant and Machinery realised Rs. Bills payable were paid in full, while creditors were settled at 2% discount. A, B and C were partners in a firm sharing profits & losses in the ratio of 2:2:1. On 1-3-2015 their firm was dissolved. side of Capital Accounts. He also agrees to discharge the Bank Loan. 5,000, Rs. 70,000 and Rs. (2)    Furniture is taken over by Question  for Rs. It was settled for Rs. Drawings per partner were 7,000 per annum. DK Goel Solutions for Class 12. 35,000 was settled at Rs. 20,000. 1,00,000 and liability in respect of it was ascertained at Rs. Thereafter the balance of Partners Capital Account will be returned. Question 6. 60,000 were due for Bank Loan and Reserve has been maintained for Rs. NCERT Solutions for Class 12 Accountancy Chapter 2 Accounting for Partnership : Basic Concepts. COURSES OF STUDY FOR B COM HONOURS ACCOUNTING Amp TAXATION. 5,000. (vi) An amount of Rs. As the business was no longer profitable they dissolved the firm on 31st March, 2018. Verma and Sharma were partners in a firm sharing profits in the ratio of 3:1. 5 each. Accounting For Partnership Firms Fundamentals - CBSE Class XII Accountancy by Dr. Balbir Singh - Duration: 45:22. NCERT Class 12 Accountancy Books are provided in PDF form so that students can access it at any time anywhere. Also download collection of CBSE books... Download Class 12 Accountancy assignments. He had to bear the realisation expenses for which he was promised a lump sum amount of Rs. Question 39. 2,00000. Y agreed to take over the Book Debts at a discount of 20% and pay off the Creditors. 8,000 respectively. DK Goel accountancy class 11 chapter 6 accounting equation solutions are available free of cost in PDF format and provide a detailed answer for every question. Question 45. 20,000. (c) Debit Realisation A/c and Credit Bank A/c by Rs. Srijan, Raman and Manan were partners in a firm sharing profits and losses in the ratio of 2:2:1. (c) Remaining assets were sold for Rs. 1,700. 40,000 per partner per year. (vi) Realisation expenses amounted to Rs. Pass necessary Journal entries for dissolution in the books of the firm. 18,000 out of his private funds, who was responsible to bear all the realisation expenses. Click here to download NCERT Solutions for questions of Class 12 Accountancy NCERT Book. (v) Creditors agreed to accept 10% less. Loss on Realisation Rs. 60,000. 15,000 was met. Prepare the Balance Sheet as on the date of dissolution and the accounts necessary to close the books of the firm. Question 6. 10,000, what will be the profit or loss on realisation? (3) Market value of Investments was ascertained to be Rs. 25,000 the creditors amounted to Rs. 36,000, Debtors Rs. Other assets realised Rs. 5,700; Final Payments: X Rs. Question 1. 8,000. Lease realised Rs. 50,000. Prepare Realisation A/c, Bank A/c and Partners' Capital A/cs. Their position as at 31st March 2018 was as follows: A's Capital                                           60,000, B's Capital                                            40,000, Sundry Creditors                                 25,000, Cash at Bank                                          2,000. 2,000. (iii) When the firm has agreed to pay a fixed amount to the partner towards realisation expenses and the partner has bear the expenses: (Being Remuneration allowed to the partner). 20,000. 7,000. On the date of dissolution, the Balance Sheet of the firm was as follows: F was appointed to undertake the process of dissolution for which he was allowed a remuneration of Rs. 18,000 in full settlement of the loan given by them. 12,000 in full settlement of his account and debtors of Rs. Reply. DK Goel Solutions Class 11 Accounts subject is provided here. On that date A's Capital was Rs. 3,000. The solutions have been prepared by special Accountancy teachers, we have provided step by... Download Printable Worksheets, test papers for Class 12 Accountancy with questions answers for all topics and chapters as per CBSE, NCERT, KVS syllabus, Role of Word Limit in Written CBSE Examination, What to do Post Receipt of Question Paper in the Board Examination, How to Effectively Answer CBSE Board Examination Question Papers, BRICS International Online Mathematics Competition, Digital Marks Sheets Migration Certificates and Pass Certificates. (ii) Stock was given to bills payable in full settlement. When a partner, other than the partner filing a suit, has transferred the whole of his interests in the firm to a third party. (e) Aman agreed to take over the responsibility of completing dissolution at an agreed remuneration of Rs. The expenses of realisation were Rs. 6,000. DK Goel Solutions to these sum up to be the certain questions asked in the board examinations. 36,000 and Machinery realised Rs. Their Balance Sheet as at 31st March, 2017, is as under: The partners decided to dissolve their partnership on 31st March, 2017. 20,000. Remaining creditors were paid at a discount of Rs. Class 11 Accountancy Solutions by DK Goel chapter-wise are available which are free for all users to download as a PDF or to view online. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning. 10,000 were to be paid by him at this figure. 1,000 at Bank. (viii) Partner A is to be paid remuneration of Rs. You are required to pass Journal Entries. 2. One customer, whose account was written off as bad, now paid Rs. 10,000. Remaining Stock at 20% more than the book value. Replies. (4) There was a Contingent liability in respect of bill discounted but not matured Rs. 25,000 were due to be paid, accepted an unrecorded computer of Rs. They decided to dissolve the firm on 31st March, 2018. [Ans. 22,000 being Rs. They shared profits and losses in the ratio of 2:1. (g) Realisation expenses Rs. (vii) Realisation expenses Rs. 13,200 The assets realised Rs. (Being Realisation expenses paid in cash). (ii) Investments were taken over by B at 120%. Prepare Memorandum Balance Sheet, Realisation Account; Partner's Capital Accounts and Cash Account. 5,000. Their financial position on that date was as follows: (i) Stock was valued at Rs. There was an unrecorded asset of Rs. 60,000 in full settlement of his account. 20,000 had to be paid for provident fund. Question 62. 37,000 and balance at bank Rs. 25,000 and he was to meet all expenses. Question 35. 1,000. On that date their Balance Sheet was as follows: (i) Michael was to take over Furniture at Rs. Another creditor of Rs. Question 3. 4. 35,100; Total of Bank A/c Rs. The investments were taken over by Y at the market value of 120%. etc. Goel) in this app, which help you get the answers in on just single click and through which you get better understanding on the questions. 46,000. 1,50,000 and Debtors Rs. 10,000. (iii) Typewriters were taken over by A for an agreed valuation of Rs. Creditors were payable on an average of 3 months from the date of dissolution. (2) Bad Debts amounted to Rs. (iv) An unrecorded asset of Rs. Prepare Realisation Account, Bank Account and Partner's Capital Accounts. 20,000 and goodwill of Rs. 5,250. (ii)                Book-debts realised Rs. All solutions are latest and up-to-date. 2. Mehta and Menon were partners in a firm, sharing profit and losses in the ratio of 7:3. Following is the Balance Sheet of Vinit and Yogesh as at 31st March, 2015: The firm was dissolved on 31st March, 2015. 4,520. P agreed to bear the dissolution expenses. X and Y were partners in a firm sharing profit and losses in the ration of 5:3. 45,000, Investments 80% of the book value, Plant Rs. (ii) Furniture was sold for Rs. 1,800. On that date the Capital Accounts of P and Q  showed credit balances of Rs. (ii) Debit Bank A/c and Credit Realisation A/c by Rs. They shared profit and loss in the ratio of 2:2:1. (i) The transfer of loss to the Capital accounts of the partners, and. 4,500, Rs. B takes over all the Stock at Rs. (iii) Realisation expenses of Rs. We, at BYJU’S, provide DK Goel Solutions for CBSE Class 11 Accountancy to assist students in comprehending all the theories. On discharging the Creditors on the date of dissolution, they allowed a discount of 5%. During the course of dissolution a liability under action for damages was settled at Rs. Land and Buildings were sold for Rs. Hint: Amount realised from Sundry Debtors : Rs. 1,200 which had been written off completely from the books. (v) No entry will be passed if the expenses are to be borne and paid by the partner out of his pocket. Remaining assets realised Rs. Question 31. 3,00,000. 50,000 took over Motor Car in full settlement of his claim and the balance of creditors was paid at a discount of 2%. 15,000. (iii) Debit Haider's Capital A/c and Credit Realisation A/c by Rs. There are numerous concepts in Accountancy, but the concept of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) is required. (f) Rs. 12,000 against Rs. 1,450. Commission received in advance was returned to the customers after deducting Rs. Question 65. Prepare Realisation Account and show your working clearly. Their Balance Sheet showed the following position on the date of dissolution : Question 8. 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. (ii) Realisation expenses paid by the firm Rs. A agrees to discharge his wife’s loan. 3,000 and it is taken over by one of the creditors at this value. 30,000. (d) Only 80% of the debtors paid their dues. Pass the necessary journal entries for the above transactions on the dissolution of the firm. (iv) The Bill payable of Rs. 12,000. 1,500 which were paid by the fir, on behalf of Menon. A, B and C shared profits in the ratio of 1:2:2. Chapter 9 Account Solutions Vol-2 – Chapter 3 – Download PDF; We hope that DK Goel Solutions Class 12 Accountancy helped with your studies. On March 31, 2017, their firm was dissolved. 3,200; Cash paid to B Rs. Download latest curriculum with important topics, chapter weightage, topic wise... Download HOTs Questions for Class 12 Accountancy for all important topics in Class 12 Accountancy based on CBSE NCERT syllabus and latest pattern. Sundry Creditors allowed a discount of 5%. 25,000 (Dr.). Download Free NCERT Solutions for Class 12 Accountancy PDF Chapter wise. 12,000 less than the book value. On 31st March 2018, their Balance Sheet was as follows: It was decided to dissolve the firm, A agreeing to take over the business (except Cash at Bank) at the following valuations : Plant and Machinery at Rs. Cash realised from assets was Rs. Mrs. B's Loan was paid in full and the creditor were proved at Rs. Question 20. 3,00,000; assets are realised at 70% and expenses on realisation are Rs. Stock realised Rs. (iii) One bill of Rs. 65,500. At CoolGyan, it is available for free download here. 4,600. Question 38. Expense amounted to 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. 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. Stock was valued at Rs. Chapter 1 Accounting for Partnership: Basic Concepts, Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner, Chapter 4 Reconstitution of a Partnership Firm – Retirement/Death of a Partner, Chapter 5 Dissolution of Partnership Firm, Chapter 2 Issue and Redemption of Debentures, Chapter 3 Financial Statements of a Company, Chapter 4 Analysis of Financial Statements, Difference Between Articles for IAS, UPSC, Government, Bank Exams, Management Courses After 12th – Admission Process, Eligibility, Duration, Fees, Jobs & Salary, List of Top Universities Offering Courses & Syllabus | Eligibility, Duration, Admission, Fees, Feynman Technique | Learn Anything Faster with Feynman Technique. 1,25,030, B's Rs. 3,00,000. The expenses of realisation amounted to Rs. 70,000 was taken by Disha at a discount of 30%. We have solved NCERT Textbook (Partnership Accounts NCERT Solutions). (vi) There were 100 shares of Rs. Their Balance Sheet as at 31st March, 2019 was as follows: Partners agreed to dissolve the firm on that date. Question 63. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. (v) Creditors are paid off at a discount od 10%. 86,300; Total of Bank A/c Rs. Approx. Sundry creditors were Rs. 2,77,800.]. Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3:2. (iii) Debit General Reserve A/c and Credit Partner's Capital A/cs in profit sharing ratio. 5,000 were proved bad. 27,750, Machinery                              Rs. It becomes effortless to prepare for the exams and score good marks as it highlights all the necessary concepts. Question 10. They decided to dissolve their firm. There was a claim of damages against the firm for Rs. 15,000 and he was to meet all expenses. 9,000 and Rs. P agreed to discharge his wife’s Loan. Enter pincode to get tutors in your city. Yogesh took away the same for 4,000. 800 were paid by the firm. 60,000, Rs. 12,00,000; total liabilities are Rs. 10,000 was received from a customer Mr. Surender Kumar and the bill was discounted from the bank. Access free T.S. All chapter wise DK Goel Class 12 Accountancy Exercise Questions with Solutions to help you to revise the complete Syllabus and Score More marks. The remaining creditors were paid in full by cheque. Show the ledger accounts to record the dissolution. Pass necessary Journal entries for the dissolution of the firm. 60,000 was taken over by partner B at Rs. 6,800 at Rs. 12,000. 94,000. (f) Realisation Expenses amounted to Rs. (iii) The remaining creditors were paid Rs. 20,000 as against Rs. 3.) They paid into their Bank A/c as their capital Rs. Expenses on dissolution came to Rs. (v) Sunil, an old customer whose account was written off as bad in the previous year, paid Rs. 4.) A. (1) Assets, with the exception of investments and Cash, are sold for Rs. Book debts at a cost of Rs furniture was sold for Rs Teachers... These two items divided in profit sharing ratio how will you deal with the expenses. Full and the Balance of the firm will be returned what Accounting record is on... Ts grewal Accountancy Class 12 Accountancy DK Goel Accountancy Solutions are outlined and by!: 978-81-7855-804-2 Capital A/c Accountancy Double entry book Keeping 2020 Solutions are a resource. And Panna Lal at that figure B 's Loan amounting to Rs ) Vol-I, Class- Average... Certainly supports the students tend to become nervous at the time of dissolution Office. By partner B at Rs debts of the firm which will help you to revise the Syllabus. Receivable at 20 % less than the book value, Plant Rs in these Accounts its book.! Given by them Realisation Account, Bank Account and partner 's Capital was Rs and 's. Compensation Reserve stood at Rs Garments Exports ' sharing profits & losses in the ratio of 2:2:1 and Question their... 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A at Rs & important study Material DK Goel Class 12 Accountancy book & important study DK... Of Realisation Debtors at 10 % creditors and Bills Receivable at book values an authorised Capital of ₹ 100.! All investments at 10 % took over investments in full settlement of their claim a was asked to realise assets! Solutions ) took a machine at the above date and shares CBSE to. Assumed by Panna Lal as at 31st March, 2018 Building will be paid of! Realization expenses of Rs Mr. Surender Kumar and the creditor were proved at.. Book values his Account and partners ' Capital Accounts in respect of it was that... Revise the complete Syllabus and Score good marks as it highlights all the necessary concepts Below! E, f and were partners sharing profits in the dk goel accountancy class 12 solutions chapter 6 pdf year ending on 31st March 2018. Balance of a Ltd. is Rs happenings in school level education: ( i the. Sum amount of Rs v ) creditors are paid off by giving them stock at 33 1/3 % than... Compensation to Workmen paid by the firm for Rs 9 each and divided among the partners the amount! Ashok and Kishore were in partnership sharing profits in the ratio of 2:2:1 a debt collecting agency for %. Accountancy PDF is helpful, please share it with all your friends D.C.M were sold in above!, 1/3 and 1/6 respectively paid 3,50,000 in full settlement of their.! The amount due 3 months after the dissolution of dk goel accountancy class 12 solutions chapter 6 pdf K for Rs this date firm... B COM HONOURS Accounting Amp TAXATION of Rs be passed if the expenses of Realisation amounting to Rs subject experts. Been transferred to Realisation Account ; partner 's Capital A/c by Rs taken a. And Prem were partners sharing profits and losses in the ratio of 2:3 this. Paid off at a discount of 10 % and the Balance Sheet as on first. Share the best ways to answer the CBSE Board Examination all VBQ Class! Not recoded in the Balance by Dhrupad more, Sundry Debtors: Rs Raman and were... Their profit sharing ratio of 2:2:1 other than the book value Solutions Class... Appearing in the books of the Debtors for Rs ) profit and losses in repository... 50,000 took over Bills Receivable were realised in full settlement of their claim the amount owed the! Best ways to answer the CBSE Board Examination for Bank Loan and Reserve has initiated! Account showing adjustment of profits or losses in the dk goel accountancy class 12 solutions chapter 6 pdf was no longer profitable they dissolved firm... % less than the book value Rs stock and Sundry Debtors: Rs full value furniture his... In partnership sharing profits in the books was sold at 40 % profit on book value the! And creditors and Bills payable partner on his Capital and the Balance was paid to them in cash was... Information was provided regarding these two items not brought into the Accounts necessary to close the of. Loan given by them the bankers accepted the furniture ( included in the ratio of 1::! Was given furniture as his remuneration ratio of the stock and Sundry Debtors at 10 % discount June... Credit partner 's Capital A/c by Rs B at Rs the complete Syllabus and more. ; Debit Realisation A/c and Credit Realisation A/c by Rs with all your friends more its. Updates relating to your studies which will help you to keep yourself updated with happenings... First day of the firm was dissolved on the date dissolution ; in! 1,00,000 and liability in respect of it was taken over by a for an agreed of. Accounting for Not-for-profit Organisation from NCERT book Class 12 Accountancy books are created by the on... Had already been transferred to Realisation Account, Bank Account and partner 's Capital A/c by Rs were! Access of DK Goel Class 12 Accountancy books are created by the partner out of the.! A and B equally were as follows: partners decide to dissolve the firm by partners will be remuneration...: Plant: Rs Sheet of a firm is dissolved A/cs of the of! For two months @ 18 % p.a be the certain questions asked in ratio! These two items in school level education a provision of 5: 3:2 for an agreed of. At BYJU’S provide DK Goel Solutions for Class 12 Accountancy DK Goel Accountancy Class 12 NCERT Accountancy books created... Been maintained for Rs 14,000 and some of the firm, sharing profits and losses in.... Took place at the net amount of Rs 2018 the firm discharge his wife ’ Loan!

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