Important Questions of Class 12 Accountancy Ch-7 Dissolution of Partnership Firm
1 Marks
Question 1:[2024C]
There are two statements: Assertion (A) and Reason (R).
Assertion (A): Court does not intervene in case of dissolution of partnership.
Reason (R): Dissolution of partnership takes place by mutual agreement among partners.
Choose the correct option from the following:
(A) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct explanation of Assertion (A).
(C) Assertion (A) is correct, but Reason (R) is incorrect.
(D) Assertion (A) is incorrect, but Reason (R) is correct.
Answer
Important Questions of Class 12 Accountancy Ch-7 Dissolution of Partnership Firm
Question 2: [2024C]
Pawan, Kavita, and Gaurav were partners in a firm. The firm was dissolved. Creditors took over furniture of book value ₹60,000 at 10% less than the book value in part settlement of their amount of ₹60,000. The balance amount was paid to them through cheque. The amount paid through cheque will be:
(A) ₹5,000 (B) ₹6,000 (C) ₹54,000 (D) Nil
Answer
(B) ₹6,000
Question 3: [2024]
Aavya, Mitansh and Praveen were partners in a firm. On 31st March, 2023, the firm was dissolved. Creditors took over furniture of book value of ₹ 50,000 at ₹ 45,000 in part settlement of their amount of ₹ 60,000. The
balance amount was paid to them through cheque. The amount paid through cheque will be :
(A) ₹ 10,000 (B) ₹ 50,000 (C) ₹ 45,000 (D) ₹ 15,000
Important Questions of Class 12 Accountancy Ch-7 Dissolution of Partnership Firm
Question 1: [2024C]
Sonia and Rohit were partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet was as follows:
Balance Sheet of Sonia and Rohit as at 31st March, 2023
| Liabilities | Amount (₹) | Assets | Amount (₹) |
|---|---|---|---|
| Capitals: | Building | 2,00,000 | |
| Sonia – 70,000 | Machinery | 1,40,000 | |
| Rohit – 90,000 | 1,60,000 | Furniture | 80,000 |
| General Reserve | 80,000 | Debtors | 1,20,000 |
| Sonia’s Loan | 1,30,000 | Stock | 60,000 |
| Bank Loan | 2,20,000 | Cash at Bank | 60,000 |
| Creditors | 70,000 | ||
| Total | 6,60,000 | Total | 6,60,000 |
The firm was dissolved on the above date on the following terms:
(i) Building, machinery and furniture realised ₹ 3,44,000.
(ii) Debtors realised 90% only.
(iii) Creditors took away half of the stock in full settlement of their account.
(iv) Remaining stock realised ₹ 72,000.
(v) Realisation expenses amounting to ₹ 14,000 were paid by Rohit.
Prepare Realisation Account.
Answer
Important Questions of Class 12 Accountancy Ch-7 Dissolution of Partnership Firm
