Dissolution Of Partnership CBSE Questions & Answers

A, B and C commenced business on January 1, 2000, with capitals of Rs.50,000, Rs.40,000 and Rs.30,000, respectively. Profits were shares in the ratio of 4:3:3. During 2010 and 2011 they made profits of Rs.20,000 and Rs.25,000 respectively. Each partner withdrew Rs.5,000 per year. On 31st December, 2011, the firm was dissolved. Creditors and cash on that date were Rs.12,000 and Rs.2,000 respectively. The assets realized were Rs.1, 50,000. Prepared Memorandum Balance sheet total amount of sundry assets will be

K and S who share profits and losses equally as on 31st march 2012. The firm was dissolved. There was an outstanding bill for repairs which had to be paid Rs.3000.What should be journal entry for this transaction

A. loan of Rs.20000 advances by a partner to the firm were paid. Journal Entry will be

Creditor’s paid Rs.58000 in full settlement of 65000. By what amount Bank account should be credited

Creditor’s paid 58000 in full settlement of ` 65000. what should be the journal entry

What should be the journal entry when A taken over loan payable to Mrs. A Rs.20000

Undistributed balance (debit ) of Profit and losss account Rs. 90000. The firms three partners A, B and C. By what amount B’s account should be Debited

Investment (face value ` 18000) were taken over by the partners in the profit sharing ratio (5:4:3) at ` 12000. The firms three partners are A , B and C .Investment amount transfer to B’s Capital account should be

Investment (face value Rs.18000) were taken over by the partners in the profit sharing ratio (5:4:3) at Rs.12000. The firms three partners are A , B and C. Journal entry for Investment amount transfer to partner’s Capital account

Anil and baman were partners sharing equal profit and losses. The firm dissolved on 15 march 2012, which resulted a loss of Rs.30000.On the date of capital account of Anil showed a credit balance of Rs.20000.Transfer of loss to capital account of Anil will be

At the time of dissolution partner's loan will be paid through ____________

Anil and Basant were partners sharing equal profit and losses. The firm dissolved on 15 march 2012, which resulted a loss of Rs.30000.On the date of capital account of Anil showed a credit balance of Rs.20000. Amount should be debited to Basant’s account while making journal entry for the final payment will be

At the time of dissolution a partner cannot take over_______

Provision for doubtful debts given in balance sheet will take place in ________

A and B share profits and losses in the ration of 5:2. They have decided to dissolve the firm. Assets and external liabilities have been transferred to Realisation A/c. As unrecorded Entries to affect of Deferred Advertisement Expenditure A/c appeared in the book at Rs.28,000 written off . By what amount B’s amount should be debited while writing off the Deferred Advertisement Expenditure expenses