Goel, Rajesh Goel, Shelly Goel Published by: Arya Publications ISBN: 978-81-7855-804-2. (ii) Debit Bank A/c and Credit Realisation A/c by Rs. 37,000 and balance at bank Rs. 20,000; Bills Receivable Rs. Question 47. Remaining creditors were paid at a discount of Rs. Their Balance Sheet as at 31st March, 2018 was as follows: Partners decide to dissolve the firm on the above date. (c) Total creditors of the firm were Rs. (iii) Realisation expenses of Rs. 30,000. X agreed to bear all realisation expenses. Their Balance Sheet showed the following position on the date of dissolution : Question 8. The company offered for public subscription all the shares. 2,00,000 B's Capital was Rs. He also agreed to pay the Creditors. X and Y were partners in a firm sharing profit and losses in the ration of 5:3. Prepare Realisation Account, Bank Account and Partner's Capital Accounts. Write the circumstances under which a firm is dissolved. (ii) When assets is taken away by one of the partners: (iii) If an asset is given away to a Creditor in part or full payment of his dues, the agreed amount of the asset is deducted from the claim of the creditor and the balance is paid to him. Peter, Roberts and Sunny commenced business on 1st April 2016 with Capitals of Rs. Their Balance Sheet as at 31st March, 2017, is as under: The partners decided to dissolve their partnership on 31st March, 2017. P, Q , and R were partners in a firm sharing profits in the ratio of 1:2:2. 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. (v) Realisation expenses amounting to Rs. 2,000. 20,000. Cash balance of Rs. 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. Question 39. 17,000 and furniture was sold to K for Rs. Manoj and Nand were partners sharing profits in the ratio of 3 : 2. Dk Goel Class 11 Solutions PDF Format Kansas Cdthanhlinh Org. 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. 30,000; Bills Payable Rs. 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. (d) There was an old typewriter which had been written off completely. 600. (vi) Market value of the Shares in X Ltd. is Rs. There was a claim of damages against the firm for 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. 5. On 31st March, 2015, their Balance Sheet was as follows: On the above date the firm was dissolved. Market value of the share of A Ltd. is Rs. DK Goel Solutions for Class 11 Accountancy Chapter 13 Ledger Journal Books Date 2017 Particulars L.F. Debit ₹ Credit ₹ March 1 Cash A/c Dr. 80,000 To Capital A/c (Started business with cash) 80,000 2 Purchases A/c Dr. 36,000 To Cash A/c (Purchased goods with cash) 36,000 3 … Features Added: 🗂️ Chapters Indexed 📝 Chapter-wise Solved Questions 🌙 … 5,000 were proved bad. (iii) There was an unrecorded asset of Rs. (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). When a partner, other than the partner filing a suit, wilfully or persistently commits breach of partnership agreement. A and B dissolve their partnership. Prepare realisation account, partner's capital accounts and the cash account. (vii) Gauri, a partner, was allowed a remuneration of Rs. (iii) A machinery which was not recorded in the books was sold for Rs. TEST YOUR UNDERSTANDING – I. Expenses of realisation were Rs. Problems Amp Solutions In Accountancy Class 12 Part A Cbse. The position of the firm was as follows: 1. How will you deal with the Realisation expenses at the time of dissolution of a firm? 20,000. Realisation expenses amounted to Rs. (ii) Actual realisation expenses paid by A amounted to Rs. Reply Delete. Sundry creditors were Rs. 38,500 in full settlement of her Loan Account. 3,00,000. P, Q  and R were partners in a firm sharing profits in the ratio of 1: 2: 2. 1,200. 1,62,000. You have remained in right site to begin getting this info. 1,000 at Bank. 4,000. Question 1. (d) Debit Partners Capital A/cs respectively by Rs. 25,000. (iv)              Plant and Machinery realised Rs. 2,000. Mrs. Wolf accepted Rs. 2,000. Chapter 9 Account Solutions Vol-2 – Chapter 3 – Download PDF; We hope that DK Goel Solutions Class 12 Accountancy helped with your studies. (2) There were outstanding expenses amounting to Rs. 22,000 being Rs. 40,000. As on now result data from 2004 till this year is available in the repository. On that date the Capital Accounts of P and Q  showed credit balances of Rs. Half the investments were sold at book value. Expenses of dissolution came to Rs. 6,00,000 was taken over by Gaurav at 50% and stock worth Rs. These were settled for Rs. 5,000 was taken over by a creditor of Rs. When a partner has become of unsound mind. 600 were paid by John. DK Goel Accountancy Class 11 Solutions Chapter 6. Question 60. 5,100; Plant & Machinery Rs. Question 1. Arun, Tarun and Varun shared profits in the ratio of 2:2:1. Prepare the necessary ledger accounts to close the books of the firm. Accountancy-DK Goel 2018 Solutions for Class 11 Accountancy Chapter 4 - Accounting for Goods & Service Tax GST) Accountancy-DK Goel 2018 Solutions for Class 11 Accountancy Chapter 5 - Books of Original Entry- Cash Book; Accountancy-DK Goel 2018 Solutions for Class 11 Accountancy Chapter 6 - Books of Original Entry- Special Purpose Subsidiary Books (v) Land & Buildings were sold at a loss of 20%. 4.) 10,000 were to be paid by him at this figure. 88,500. 1,400 By C. On 31st March, 2018, they dissolved their firm, A taking up stock at an agreed valuation of Rs. (ii) Realisation expenses paid by the firm Rs. 60 each. 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. (v) No entry will be passed if the expenses are to be borne and paid by the partner out of his pocket. DK Goel Solutions Accountancy furnishes a wide range of solutions that certainly supports the students to understand, analyse and solve them. 5,00.000 and provision for doubtful debts appeared at Rs. Question 10. Verma and Sharma were partners in a firm sharing profits in the ratio of 3:1. Actual dissolution expenses Rs. 1,50,000 and Rs. Prepare Journal, Realisation Account, Capital Accounts and Bank Account. 2,000; Stock realised Rs. 4. 10,000 and Rs. 3,200; Cash paid to B Rs. 60,000 in full settlement of his account. (iii) General Reserve appearing in the balance sheet was Rs. (b) Bills Payable of Rs. Some of the special features of the book are : 27,750, Machinery                              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. On 31 March, 2020 their Balance Sheet was as follows: The firm was dissolved on the above date: (i) Anurag took over 60% of the stock at a discount of 20%, 25% of the remaining stock was sold at a profit of 40% on cost; Remaining stock was found obsolete and realised nothing. The expenses of realisation were Rs. He had to bear the realisation expenses for which he was promised a lump sum amount of Rs. (3)    Creditors were paid off at a discount of 5%. 11,200, Debtors: Rs. The Creditors amounted to Rs. 2,000 which were paid by Adiraj. (A)          X, Y and Z were in partnership sharing profits and losses in the ratio of 7:2:1 and the Balance Sheet of the firm stood on 31st March, 2018, as under: On 31st March, 2018 it was decided to dissolve the firm on the following terms: (i) X is to take over the building at Rs. 40,000. (1) Assets, with the exception of investments and Cash, are sold for Rs. They decided to dissolve their partnership firm on 31st March, 2016. 2,000. Question 52. P agreed to bear the dissolution expenses. 10,000. You are given the following information about dissolution : (i) One of the Debtors for Rs. Question 7. (b) Yogesh took away 90% of the investment at 10% discount. Their capitals stood at Rs. 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. 2.) 2,000 less. Approx. 1,250. Write the circumstances under which a firm is dissolved.Solution 1 Below are the circumstances under which a firm is dissolved:-1.) The expenses were paid by him. 2. Expenses of realisation amounted to Rs. The assets realised Rs. Also show the Bank Account.’. It was agreed that Sharma will look after the dissolution work and will be paid Rs. (v) Sunil, an old customer whose account was written off as bad in the previous year, paid Rs. 6,000. 32,000. (iv) The firm had to pay Rs. Assets realized as follows: (i) The Land & Building was sold for Rs. Following is the Balance Sheet of Ramji Lal and Panna Lal as at 31st March, 2016 : They decided to dissolve the firm. 15,000 were paid at a discount of 3% Expenses incurred on realisation were Rs. 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. X, Y and Z entered into partnership on 1st October, 2017 sharing profits and losses in the proportions of 4:3:2, respectively, and with capitals of Rs. 3,00,000 was paid along with interest of Rs. 5,000, Rs. 43 500. Question 23. When a partner has become of unsound mind. (v) Viru, a partner, was paid remuneration of Rs. X, Y and Z are in partnership, sharing profits and losses equally. 2,000 and were taken over by A. 2,000. 1,700. (ii) Leasehold Premises realised Rs. 900.]. 12,00,000; total liabilities are Rs. (vi) Dissolution expenses were Rs. DK Goel Solutions for Class 12. Adiraj and Karan were partners in a firm sharing profits and losses in the ratio 3:2. 1,800. (e) Nandan had taken taken a loan of Rs. (d) Mohit paid realisation expenses of Rs. Accounts were finally settled. 3,000. (vi) Expenses of realisation amounting to Rs. Y agreed to take over the Book Debts at a discount of 20% and pay off the Creditors. 20,000 and goodwill of Rs. 50,000. 50,000 had to pay the amount due 3 months after the date dissolution. Enter pincode to get tutors in your city. Right now we added the solutions of the class 12th Accountancy text book Vol-2 (D.K. The remaining debtors realise 50% of book value. 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. 34,400 and the Creditors of Rs. After the transfer of assets (other than cash in hand and at bank) and third party liabilities to the Realisation Account, the following information was provided : (i) Furniture of Rs. Srijan was to receive 5% commission on sale of assets (except cash) and was to bear all expenses of realisation. 7,000. Question 51. 90,000 and remaining stock was sold for Rs. Rs. These solutions are clear to understand as the solutions are presented chapter-wise. After transferring Sundry assets (other than cash in hand and cash at Bank) and third party liabilities to realisation account, the assets were realized and liabilities were paid off as follows: (i) A machinery with a book value of Rs. (iv) Sundry creditors Rs. If you think this post on DK Goel Solutions for Class 12 Accountancy PDF is helpful, please share it with all your friends. Realisation of Building will be recorded at the net amount of Rs. B had lent to the firm in addition to Capital Rs. (iv) All Debtors were realised at full value. It was settled for Rs. 10,000 and he was to meet all expenses. 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. 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. Dk Goel Accountancy Class 12 Chapter 3 Solutions.pdf - search pdf books free download Free eBook and manual for Business, Education,Finance, Inspirational, Novel, Religion, Social, Sports, Science, Technology, Holiday, Medical,Daily new PDF ebooks documents ready for download, All PDF documents are Free,The biggest database for Free books and documents search with fast results … in the board exams. If you think this post on DK Goel Solutions for Class 12 Accountancy PDF is helpful, please share it with all your friends. 12,000 against Rs. Prepare the Realisation Account and Partners' Capital Accounts. 4. Commission received in advance was returned to the customers after deducting Rs. (iii) Debit General Reserve A/c and Credit Partner's Capital A/cs in profit sharing ratio. 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. 18,000 in full settlement of the loan given by them. 25,000 the creditors amounted to Rs. (viii) Partner A is to be paid remuneration of Rs. 2,000 Sundry Creditors agreed to accept Rs. Also after the chapter, you can get links to Class 12 Accountancy Notes, NCERT Solutions, Important Question, Practice Papers etc. Chapter 3 Class 12 Dk Goel Pdf Download.pdf - Free download Ebook, Handbook, Textbook, User Guide PDF files on the internet quickly and easily. 52,000; Shares in D.C.M were sold for Rs. Stock realised Rs. Out of the remaining amount, the loans advanced by partners will be paid off. If total assets are Rs. were received from his estate. [Ans. A, B and C are partners sharing profits and losses in the ratio of 4:2:1. Reply. 20,000 as against Rs. (d) Only 80% of the debtors paid their dues. (v) Profit and Loss Account showed a debit balance of Rs. Actual realisation expenses Rs. (4)    G's loan was paid by a cheque of the same amount. Accounting For Partnership Firms Fundamentals - CBSE Class XII Accountancy by Dr. Balbir Singh - Duration: 45:22. (2)    Stock was taken over by X for Rs. On that date their respective credits to the Capitals were Rs. 1,500 was due and had to be paid. (vi) Realisation expenses amounted to Rs. Assets are realised as follows: (i) Machinery 10% less  than book value; Plant Rs. 12,000. A and B who were in partnership sharing profits and losses in the proportion of 4/7 and 3/7 respectively, decided to dissolve the firm as on 31st March, 2018. Plant & Machinery – Rs. (ii) Profit and Loss A/c was showing a debit balance of Rs. Other assets realised Rs. 60,000. The solution for this question is as follows: Question 57. X agreed to take over the Stock-in-trade at a discount of 10% and pay off the Bills Payable. After paying up their creditors, there remained a balance of 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. (vi)              Realisation expenses were Rs. Pritam and Naresh shared profits and losses in the ratio of their Capitals. (v) An unrecorded asset estimated at Rs. 5,000. 10,000, what will be the profit or loss on realisation? 48,000 while losses in the second year amounted to Rs. Actual Expenses amounted to Rs. (iv) Investments were sold in the open market at a price of Rs. Prepare Realisation A/c and Capital A/cs of the partners and an account showing adjustment of profits or losses in the business. 10,000. 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. Debtors were all good; Stock realised Rs. (e) Sundry Creditors and bills payable were settled at 5% discount, Y accepted Stock at Rs. A is to receive 6% commission on the amount realised from Stock, Debtors, B/R and Shares. (a) Debit Realisation A/c and Credit Sharma's Capital A/c by Rs. Pass necessary Journal entries for dissolution in the books of the firm. Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 4 - Accounting for Goods & Service Tax GST) Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 5 - Books of Original Entry- Cash Book; Accountancy-DK Goel 2019 Solutions for Class 11 Accountancy Chapter 6 - Books of Original Entry- Special Purpose Subsidiary Books (iii) Investments were realised at 95% of the book value. The following is the Balance Sheet of A, B and C, as at 31st March, 2018: The profit and loss sharing ratios of the partners are 3:2 : 1. 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. Keyword Ranking Analysis For DK GOEL CLASS 11 ACCOUNTANCY. 2,000. DK Goel Solutions for Class 11 Accountancy Chapter 22 Financial Statements - With Adjustments, covers all the questions provided in DK Goel Books for 11th Class Accountancy Subject. 4,000. Half the shares were sold in the market subject to a commission of 2% and the balance half were divided by all the partners in their profit sharing ratio. Question 43. 76,000 in full settlement of their claim and the remaining assets were taken over by Vaibhav for Rs. At the above date, partners decide to dissolve the firm. Replies. Aryabhata Ganit Challenge (AGC) has been initiated by the CBSE Board to enhance mathematical abilities among students in the year 2019. 60,000 was incurred. On 1st April, 2018, the Balance Sheet of the firm was as follows: The firm was dissolved on the date given above. Sundry Debtors subject to a provision of 5%. 4,877 and Office Fixtures at a depreciation of 10%. 50,000 took over Motor Car in full settlement of his claim and the balance of creditors was paid at a discount of 2%. On 1st April, 2017 A, B and C commenced business in partnership sharing profit and losses in proportion of 1/2, 1/3 and 1/6 respectively. (c) Sunil, a debtor Rs. These solutions for Class 12 are outlined keeping in mind the current CBSE syllabus, hence possessing a great chance of appearing in the board examinations. 36,000 and this was taken over by P and Question  equally. 2,000. (ii) Jackson was to take over all the stock in trade at Rs. 1,700 by B and 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. Prepare the Balance Sheet as on the date of dissolution and the accounts necessary to close the books of the firm. Prepare Realisation Account, Capital Accounts and Cash Account. 15,000. First of all, outside debts of the firm will be paid. (B)          Mrs. Rita Chowdhary and Miss Shobha are partners in a firm, 'Fancy Garments Exports' sharing profits and losses equally. There are numerous concepts in Accountancy, but the concept of Trial Balance, Depreciation and Bank Reconciliation Statement (BRS) is required. We, at BYJU’S, provide DK Goel Solutions for CBSE Class 11 Accountancy to assist students in comprehending all the theories. The following was the Balance Sheet of Fox and Wolf as at 31st March, 2018, when they decided to dissolve the firm : Stock                                     Rs. Lease realised Rs. TS Grewal Accountancy Class 12 Solutions Chapter 8 Accounting for Share Capital. They decided to dissolve the firm on 31st March, 2018. 10 each in DCM Ltd. acquired at a cost of Rs. 25,000 as compensation. (iv) There will be no entry of Prem taking over furniture as his remuneration. Actual realisation expenses amounted to Rs. 50,000, Goodwill – 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. Question 32. 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). 56,000. 10,000. Assets realised as follows: Debtors Rs. 30,000 took over stock of Rs. 2,00,000; Debit Realisation A/c and Credit Bank A/c by Rs. Question 3. During the year the firm earned a profit (before interest) of Rs. Hint. 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. (iv) 50% Stock was taken over by Hema on cash payment of Rs. When  a partner, other than the partner filing a suit, has become permanently incapable of performing his duties as a partner. One customer, whose account was written off as bad, now paid Rs. A agrees to discharge his wife’s loan. Question 34. (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. (e) Aman agreed to take over the responsibility of completing dissolution at an agreed remuneration of Rs. 5,000 on that date. Question 14. Dk Goel Accountancy Class 11 Tmolly De. 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. Prepare Realisation Account, Bank Account and Partners' Capital Accounts to close the books of the firm as a result of its dissolution. On 31.12.2018 their Balance Sheet was as follows: On this date the firm was dissolved. 3,200 which was withdrawn by him from the firm. 6,000. 10,000 which was taken over by A at Rs. 3,02,000. The assets other than the amount owning by X to the firm realised Rs. Solution  3          A ‘Realisation Account’ is opened for disposing of all the assets of the firm and making payment to all the creditors. Question 4. 2,77,800.]. Question 6. On 31.3.2018 the Balance Sheet of the firm was as follows: The firm was dissolved on 1.4.2018 and the assets and liabilities were settled as follows: (i) Land and building was taken over by Raman at a depreciation of 10% for cash; (ii) Creditors of Rs. DK Goel Textbook Solutions are outlined by subject matter experts. 3,00,000) was sold for Rs. (v)                Mrs. Rita Chowdhary took over the goodwill of the firm at a valuation of Rs. (iv) Building was auctioned for Rs. (f) There was an old furniture which has been written off completely from the books. (3) A B/R for Rs. 2,00,000; Creditors were paid at a discount of 10% and the expenses of dissolution were Rs. 4,500 and Credit Realisation A/c by Rs. Question 26. Question 17. 600. 5,000. Access free NCERT Solutions for class commerce Accountancy on LearnCBSE.in without any login. The intend of this article is to let us know the significance of writing within the prescribed word limit while attempting the CBSE Board Examination. The previous accounts. 1,800, which is not insluded in Rs. side of Capital Accounts. Land and Building              Rs. (iv) Sundry Creditors amounted to Rs. Question 18. This liability was not appearing in the above Balance Sheet. 60,000 were due for Bank Loan and Reserve has been maintained for Rs. Extra Class gives students Free access of DK Goel (2019) questions and their solutions. COURSES OF STUDY FOR B COM HONOURS ACCOUNTING Amp TAXATION. On 31.3.2018 their Balance Sheet was as follows: (i) Sanjay agreed to take over land and building at Rs. 70,000 was sold for Rs. 7,500 for an outstanding repair bill not provided for earlier. Accountancy (Part-A) Vol-I, Class- XII Average rating Read all reviews. Jain, Sharma and Verma were partners in a firm sharing profits in the ratio of 1: 2: 1. 3. Loss on Realisation Rs. 1.) 80,000 and Cash balance was Rs. 300. Question 48. 25,000, Stock: Rs. 9,000 in full settlement of his claim. Also download collection of CBSE books... Download Class 12 Accountancy assignments. (2)    Furniture is taken over by Question  for Rs. (iii) Sundry Creditors took over investments in full settlement. Sanjay and Sameer were partners in a firm sharing profits in the ratio of 2:3. Class 12 NCERT Accountancy Books are created by the best professors who are experts in Accountancy and have good knowledge in the subject. 15,000 as remuneration. E, F and were partners in a firm sharing profits in the ratio of 2:2:1.