LearnCBSE.in provided chapter wise detailed solution to the question of the NCERT (National Council of Educational Research and Training ) textbooks. Remaining creditors were paid at a discount of Rs. (ii) Actual realisation expenses paid by A amounted to Rs. 6,000. 6,000. Pass necessary journal entries for the above transactions in the books of the firm. etc. (vi) The firm retrenched their employees three months before the dissolution of the firm and the firm had to pay Rs. 60,000 were due for Bank Loan and Reserve has been maintained for Rs. DK Goel Accountancy Class 11 Solutions Chapter 6. You are required to complete these below given accounts by posting correct amounts. 7,500. Hema and Garima were partners in a firm sharing profits in the rain 3:2. (iv) The Bill payable of Rs. Z took over the Bills Receivable at Rs. Question 3. P, Q  and R are partners sharing profits and losses in the ratio of 2:1:1. Enter pincode to get tutors in your city. Land and Building              Rs. Rs. 3,500 not brought into the accounts matured and had to be met. 3,000 under discount was dishonored as the acceptor had become insolvent and hence the bill had to be met by the firm. These solutions for Class 12 are outlined keeping in mind the current CBSE syllabus Class 12th, hence possessing a great chance of appearing in the board examinations. 1,500. (Being Realisation expenses paid in cash). Reply. 18,000.]. (v) Expenses of realisation were Rs. (d) There was an old typewriter which had been written off completely. 1,20,000 were due to creditors. (b) A's Loan Account and B's Loan Account. Their capitals stood at Rs. 3,200 which was withdrawn by him from the firm. Reply Delete. 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 … (iv) An unrecorded asset of Rs. The remaining debtors were collected in full. 2.) 2.) Cash balance of Rs. Close the books of the firm by preparing Realisation Account, Partner's Capital Accounts, and Bank Account. Surender became insolvent and 75 paise per Rs. 1,450. 2. Solutions Dk Goel Accountancy Class 12 Solutions Right here, we have countless book dk goel accountancy class 12 solutions and collections to check out. On that date their Balance Sheet was as under: The assets were realised and the liabilities were paid as under : (i) Arnab agreed to pay his brother's loan. There was a claim of damages against the firm for 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. 4,000 which was settled at Rs. 5,500. (3)    Land and Building was sold for Rs. Chapter 9 Account Solutions Vol-2 – Chapter 3 – Download PDF; We hope that DK Goel Solutions Class 12 Accountancy helped with your studies. Goel, Rajesh Goel, Shelly Goel Published by: Arya Publications ISBN: 978-81-7855-804-2. 12,000. 5,000 only provided for in the books of the firm. (e) Menon agreed to take over the responsibility of completing the dissolution work and to bear all expenses of realisation expenses were Rs. 4,600. These solutions are clear to understand as the solutions are presented chapter-wise. A, B and C were in partnership sharing profits in the ratio of 2:1:1. 35,000 was settled at Rs. 12,500 and Goodwill Rs. [Ans. Download solutions... Download latest 2021 Sample Papers for Class 12 Accountancy as per CBSE NCERT pattern and syllabus. 8,000. 1,700. 6. 46,000. 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. The various assets (other than cash) and outside liabilities have been transferred to Realisation Account: (i) James agreed to pay off his brother's loan Rs. 4,000 were paid by P. (v) N, a partner, was appointed to look after the process of dissolution for which he was allowed a remuneration of Rs. 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. 7,500 for an outstanding repair bill not provided for earlier. (e) Aman agreed to take over the responsibility of completing dissolution at an agreed remuneration of Rs. 1,00,000. Their Balance Sheet as at 31st March, 2017, is as under: The partners decided to dissolve their partnership on 31st March, 2017. 18,000 out of his private funds, who was responsible to bear all the realisation expenses. You are required to show the Realisation Account, Capital Accounts and Bank Account. (iii) Sundry Creditors were paid off by giving them stock at 75% of the book value and the balance in cash. 70,000 and Rs. 38,500 in full settlement of her Loan Account. (3)    Creditors were paid off at a discount of 5%. Raman and Richa were  partners in a firm sharing profits in the ratio of 7:3. The questions provided in DK Goel (2019) Books are prepared in accordance with CBSE, thus holding higher chances of appearing on CBSE question papers. Actual realisation expenses amounted to Rs. (vi) Expenses of realisation amounting to Rs. On 31st March, 2018 the firm was dissolved. 49,000; Cash brought in by A Rs. 1,20,000; Goodwill was sold for Rs. 30,000; Bills Payable Rs. 75,000. 5,000. 20,000. 20,000 which were paid by the firm. Prepare Realisation Account, Bank Account and Partners' Capital Accounts to close the books of the firm as a result of its dissolution. Assets realised 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. Following is their Balance Sheet on the date of dissolution : (i) Land & Buildings were sold at 80% of the book value. 1,400 By C. On 31st March, 2018, they dissolved their firm, A taking up stock at an agreed valuation of Rs. Machinery is sold for Rs. (v) No entry will be passed if the expenses are to be borne and paid by the partner out of his pocket. These shares are valued at Rs. 1,500 which were paid by the fir, on behalf of Menon. 25,000 (Dr.). 7,000 by B and Rs 5,000 by C. During the year they drew Rs. 70,000 was sold for Rs. Question 46. (c) Building was taken over by Rashi at Rs. 16,950 and Rs. Arun was to receive 5% commission on the sale of assets (except cash) and was to bear all expenses of realisation. Usually most of the students tend to become nervous at the times of the board examination. 20,000 at Rs. (iii) Workmen Compensation Reserve stood at Rs. 56,000. (iv) The shares in B Co. Ltd. to be divided in profit sharing ratio. 20,000 paid Rs. A and B shared profits in the ratio of 7 : 3. 14,700. Drawings per partner were 7,000 per annum. TEST YOUR UNDERSTANDING – I. May 1st, 2018 - Dk Goel 2016 Textbook Solutions for Class 13 Accountancy Chapter 1 Accounting Equations Solutions for Class 13 Accountancy Chapter 12 Financial Statements''Dk Goel Accounts Book Class 12 Solutions Pdf Shmups De DK Goel Solutions to these sum up to be the certain questions asked in the board examinations. 5,000. 67,000. (iv) Debtors realised 20% less of the amount due from them. Question 5. Keyword Ranking Analysis For DK GOEL CLASS 11 ACCOUNTANCY. Question 23. COURSES OF STUDY FOR B COM HONOURS ACCOUNTING Amp TAXATION. Question 41. Prepare Partner’s Capital Accounts, Realisation Account, Cash Account, Profit and Loss Appropriation Account and Balance Sheet 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 Question 45. (v) Realisation expenses Rs. They shared profits and losses in the ratio of 2:1. 8,000 respectively. It was taken away by Rajat at 25% less than the estimated price. 900. Question 65. You are required to pass Journal Entries. If you think this post on DK Goel Solutions for Class 12 Accountancy PDF is helpful, please share it with all your friends. Question 4. Debtors were all good; Stock realised Rs. The expenses of dissolution Rs. The DK Goel accountancy solutions are a great resource for commerce students. 15,000. 68,000 by auction and auctioneer's commission amounted to Rs. Prepare necessary accounts to close the books of the firm and prepare the Balance Sheet of A. Show the final adjustments of cash between partners. 86,300; Total of Bank A/c Rs. Dk Goel Accountancy Class 11 Tmolly De. (4)    G's loan was paid by a cheque of the same amount. Features Added: 🗂️ Chapters Indexed 📝 Chapter-wise Solved Questions 🌙 … (vi)              Realisation expenses were Rs. 52,000; Shares in D.C.M were sold for Rs. B had lent to the firm in addition to Capital Rs. (iii) Sundry Creditors took over investments in full settlement. (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. 35,100; Total of Bank A/c Rs. 1,10,000. (iii) Office Equipment was accepted by the creditor for Rs. Sundry Debtors subject to a provision of 5%. On 31.3.2018 their Balance Sheet was as follows: (i) Sanjay agreed to take over land and building at Rs. 16 per share. Give journal entries in each of the following alternative cases on the dissolution of a firm: (i) Realisation expenses paid by X on behalf of the firm. But having screenshots already prepared in addition to callouts, explanations, and Arun was appointed to realise the assets. 8,000 and R Rs. 600 under discount having been dishonoured had to be taken up by them. Public applied for 45,000 shares and allotment was made to all the applicants. 60 each. 62,100 Z Rs. At the time of dissolution A's capital was Rs. 27,750 given above. NCERT Class 12 Accountancy Books are provided in PDF form so that students can access it at any time anywhere. The Creditors amounted to Rs. Reply. 2,84,000 were paid to the creditors in full settlement of their claim of Rs. 25,000, for which a commission of 2% was paid to the broker. Question 51. 3,55,000. 40,000. (v)                Mrs. Rita Chowdhary took over the goodwill of the firm at a valuation of Rs. 4,000 were paid by the firm. Problems Amp Solutions In Accountancy Class 12 Part A Cbse. 20,000. 14,000 and some of the other Sundry Assets at Rs. Replies. The various assets were realised and liabilities were settled as under: (i) Garima agreed to pay her husband's loan. were received from his estate. (ii) Debit Bank A/c and Credit Realisation A/c by Rs. When  a partner, other than the partner filing a suit, has become permanently incapable of performing his duties as a partner. Question 64. The following is the Balance Sheet of A and B as at 31st March, 2018. Prepare Journal, Realisation Account, Capital Accounts and Bank Account. 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. The solution for this question is as follows: NCERT Solutions for Class 12 Accountancy Chapter 2 Accounting for Partnership : Basic Concepts. Question 17. (ii) Leasehold Premises realised Rs. (v) Profit and Loss Account showed a debit balance of Rs. Aryabhata Ganit Challenge (AGC) has been initiated by the CBSE Board to enhance mathematical abilities among students in the year 2019. 20,000 and Rs. Question 29. CBSE Class 12 Accountancy Double Entry Book Keeping 2020 solutions are outlined and solved by the experts at BYJU’S. Question 16. 5,000 was taken over by a creditor of Rs. 54,000, balance of the stock was sold off at a profit of 30 per cent on cost. 19,000. 40,000 respectively, the amount owed by X to the firm was Rs. 6,00,000 was taken over by Gaurav at 50% and stock worth Rs. Question 31. The expenses of realisation amounted to Rs. We at BYJU’S provide DK Goel Solutions to assist students to comprehend all the theories in particular. TS Grewal Accountancy Class 12 Solutions Chapter 8 Accounting for Share Capital. (iv) Building was auctioned for Rs. 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. 25,000 and he was to meet all expenses. 20,000 and goodwill of Rs. 10,000. (ii) Jackson was to take over all the stock in trade at Rs. 10,000. (ii) When expenses of realisation are paid by a partner on behalf of the firm: (Being Remuneration expenses paid by the partner). 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