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Question 01 Chapter 7 – Class 12 Part 1 Unimax

Question 01 Chapter 7 - Class 12 Part 1 Unimax

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Question 01 Chapter 7 – Class 12 Part 1 Unimax

1. Pass necessary Journal entries for the following transactions at the dissolution of the firm.

  1. loan of ₹ 10000 advanced by a partner to the firm was refunded.
  2. X a partner takes over an unrecorded asset (typewriter) at ₹300.
  3. Undistributed balance (debit) of P/L a/c is ₹ 30000. The firm has three partners X, Y and Z.
  4. The assets of the firm realized ₹ 125000.
  5. Y who undertakes to carry out the dissolution proceedings is given credit of ₹ 2000 for the same.
  6. Creditors were paid ₹ 28000 in full settlement of their claim of ₹ 30000.

The solution to Question 01 Chapter 7 – Class 12 Part 1 Unimax: –

Journal Entries

End of Solution


Check Out the Solution of all questions for this chapter:

The solution to all questions of Chapter No. 7 – Partnership Accounts-VI  (Dissolution of Partnership Firm) Class 12 Unimax is shown as follows, click on the image of the question to get the solution.

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Question 06 Chapter 7 – Class 12 Part 1 Unimax

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Question 18 Chapter 7 – Class 12 Part 1 Unimax

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

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Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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