Question 35 Chapter 7 – Class 12 Part 1 Unimax -

Question 35 Chapter 7 – Class 12 Part 1 Unimax

35. On 1st January. 2022 A, 13 and C commenced business in partnership sharing profits and losses in the ratio of 3 : 2 : 1 respectively. They paid into the firm Bank account as their capital 22,000. 10,000 by A ; 7,000 by B and 5,000 by C. During the year they withdrew 5.000, being 1,900 by A. Z 1,700 by B and 1,400 by C. There was no profit or loss during the year.
On 31st December, 2022 they dissolved their firm. Cash at bank on that date was 1,000.
Assets realized as follows: A-taking up _stock at an agreed value of 4,500 ; B taking up furniture at 3,000 and C taking up debtors at 2,500.
Prepare the necessary ledger accounts showing the distribution of cash at bank and of the further cash brought in by any partner or partners as the case may be.

Table of Contents

The solution of Question 35 Chapter 7 – Class 12 Part 1 Unimax: –

Realisation a/c

Particulars	Amount	Particulars		Amount
To Sundry assets	16,000	By A’s Capital A/c (Stock)		4,500
		By B’s Capital A/c (Furniture)		3,000
		By C’s Capital A/c (Debtors)		2,500
		By Loss transferred to Capital A/cs
		A	3,000
		B	2,000
		C	1,000	6,000
	16,000			16,000

Partner’s Capital a/c

Particulars	A	B	C	Particulars	A	B	C
To Realisation A/c				By balanced b/d	8,100	5,300	3,600
-Stock	4,500			`
-Furniture		3,000
-Debtors			2,500
– Loss	3,000	2,000	1,000
To Bank A/c	600	300	100

	8,100	5,300	3,600		8,100	5,300	3,600

Bank A/c

Particulars	Amount	Particulars	Amount
To balanced b/d	1,000	By A’s Capital A/c	600
		By B’s Capital A/c	300
		By C’s Capital A/c	100

	1,000		1,000

Working Note:

Balance Sheet on Date of Dissolution

Particulars		Amount	Particulars	Amount
Capital A/cs			Cash in hand	1,000
A	8,100		Sundry Assets (B.F.)	16,000
B	5,300
C	3,600	17,000

		17,000		17,000

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.

Question 01 Chapter 7 – Class 12 Part 1 Unimax

Question 02 Chapter 7 – Class 12 Part 1 Unimax

Question 03 Chapter 7 – Class 12 Part 1 Unimax

Question 05 Chapter 7 – Class 12 Part 1 Unimax

Question 04 Chapter 7 – Class 12 Part 1 Unimax

Question 06 Chapter 7 – Class 12 Part 1 Unimax

Question 07 Chapter 7 – Class 12 Part 1 Unimax

Question 08 Chapter 7 – Class 12 Part 1 Unimax

Question 10 Chapter 7 – Class 12 Part 1 Unimax

Question 09 Chapter 7 – Class 12 Part 1 Unimax

Question 11 Chapter 7 – Class 12 Part 1 Unimax

Question 12 Chapter 7 – Class 12 Part 1 Unimax

Question 13 Chapter 7 – Class 12 Part 1 Unimax

Question 14 Chapter 7 – Class 12 Part 1 Unimax

Question 15 Chapter 7 – Class 12 Part 1 Unimax

Question 16 Chapter 7 – Class 12 Part 1 Unimax

Question 17 Chapter 7 – Class 12 Part 1 Unimax

Question 18 Chapter 7 – Class 12 Part 1 Unimax

Question 19 Chapter 7 – Class 12 Part 1 Unimax

Question 20 Chapter 7 – Class 12 Part 1 Unimax

Question 21 Chapter 7 – Class 12 Part 1 Unimax

Question 22 Chapter 7 – Class 12 Part 1 Unimax

Question 23 Chapter 7 – Class 12 Part 1 Unimax

Question 24 Chapter 7 – Class 12 Part 1 Unimax

Question 25 Chapter 7 – Class 12 Part 1 Unimax

Question 26 Chapter 7 – Class 12 Part 1 Unimax

Question 27 Chapter 7 – Class 12 Part 1 Unimax

Question 28 Chapter 7 – Class 12 Part 1 Unimax

Question 29 Chapter 7 – Class 12 Part 1 Unimax

Question 30 Chapter 7 – Class 12 Part 1 Unimax

Question 31 Chapter 7 – Class 12 Part 1 Unimax

Question 32 Chapter 7 – Class 12 Part 1 Unimax

Question 33 Chapter 7 – Class 12 Part 1 Unimax

Question 34 Chapter 7 – Class 12 Part 1 Unimax

Question 35 Chapter 7 – Class 12 Part 1 Unimax

Question 36 Chapter 7 – Class 12 Part 1 Unimax

Question 37 Chapter 7 – Class 12 Part 1 Unimax

Question 38 Chapter 7 – Class 12 Part 1 Unimax

Question 39 Chapter 7 – Class 12 Part 1 Unimax

Question 40 Chapter 7 – Class 12 Part 1 Unimax

Question 41 Chapter 7 – Class 12 Part 1 Unimax

Question 42 Chapter 7 – Class 12 Part 1 Unimax

Question 43 Chapter 7 – Class 12 Part 1 Unimax

Question 44 Chapter 7 – Class 12 Part 1 Unimax

Question 45 Chapter 7 – Class 12 Part 1 Unimax

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