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Category [CBSE] Dissolution of Partner

[CBSE] Dissolution of Partner 55 Questions

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Arnab, Ragini and Dhrupad are partners sharing profits in the ratio of 3 : 1 : 1. Last year, conflicts arose due to certain issues of disagreements and on 31st March, 2023, they decided to dissolved the firm. On that date their Balance sheet was as under:

6.16K viewsAnurag Pathak Changed status to publish October 1, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Ashok, Babu and Chetan are in partnership sharing profit in the proportion of 1/2, 1/3, 1/6 respectively. They dissolve the partnership on 31st March, 2023 when the Balance Sheet of the firm is as under:

4.61K viewsAnurag Pathak Changed status to publish September 23, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Pradeep and Paresh partners in a firm decided to dissolve their partnership firm on 1st April, 2024. Pradeep was deputed to realise the assets and to pay off the liabilities

1.36K viewsAnurag Pathak Answered question June 10, 2024[CBSE] Dissolution of Partner

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Pass necessary Journal entries for the following transactions, on the dissolution of a partnership firm of Kavita and Suman on 31st March, 2022, after the various assets (other than cash) and third party liabilities have been transferred to Realisation Account

671 viewsAnurag Pathak Answered question June 10, 2024[CBSE] Dissolution of Partner

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Ramesh and Umesh were partners in a firm sharing profits in the ratio of their capitals. On 31st March, 2023, their Balance Sheet was as follows:

5.68K viewsAnurag Pathak Changed status to publish June 8, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Realisation expenses were ₹ 10,000 and paid by the firm on behalf of Alok, a partner, with whom it was agreed at ₹ 7,500.

3.10K viewsAnurag Pathak Changed status to publish June 8, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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P, Q and R are partners sharing profits and losses in the ratio of 3 : 3 : 2. Their respective capitals are in their profit-sharing proportions

3.52K viewsAnurag Pathak Changed status to publish March 30, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Shilpa, Meena and Nanda decided to dissolve their partnership on 31st March, 2023. Their Profit sharing ratio was 3 : 2 : 1 and their Balance Sheet was as under:

4.89K viewsAnurag Pathak Changed status to publish March 18, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Rita and Sobha are partners in a firm, Fancy Garments Exports, sharing profits and losses equally. On 1st April, 2023, the Balance sheet of the firm was:

5.84K viewsAnurag Pathak Changed status to publish March 18, 2024[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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A, B and C were equal partners. On 31st March, 2023, their Balance Sheet stood as:

4.46K viewsAnurag Pathak Changed status to publish September 20, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Trade Payables ₹ 50,000, Working Capital ₹ 9,00,000, Current Liabilities ₹ 3,00,000. Calculate Current Ratio.

2.16K viewsAnurag Pathak Changed status to publish August 1, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Calculate Current Ratio from the following information: Total Assets 20,00,000 Fixed Tangible Assets 10,00,000

3.19K viewsAnurag Pathak Changed status to publish August 1, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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X and Y were partners sharing profits and losses in the ratio of 3 : 2. They decided to dissolve the firm on 31st March 2023.

3.04K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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The partnership between A and B was dissolved on 31st March, 2023. On that date the respective credits to the capitals were A – ₹ 1,70,000 and B – ₹ 30,000.

2.97K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Priya, Komal and Rakhi were in partnership sharing profits and losses in the ratio of 2 : 1 : 1. They decided to dissolve the partnership.

3.69K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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A, B and C started business on 1st April, 2022 with capitals of ₹ 1,00,000; ₹ 80,000 and ₹ 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3.

4.10K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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A and B were partners sharing profits and losses as to 7/11th to A and 4/11th to B. They dissolved the partnership on 30th May, 2022.

2.59K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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A, B and C were partners sharing profits in the ratio of 5 : 3 : 2. On 31st March, 2023, A’s Capital and B’s Capital were ₹ 30,000 and ₹ 20,000 respectively but C owed ₹ 5,000 to the firm.

3.33K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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There are two partners Angad and Raman in a firm and their capitals are ₹ 50,000 and ₹ 40,000. The creditors are ₹ 30,000. The assets of the firm realise ₹ 1,00,000. How much will Angad and Raman receive?

3.22K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Raina and Meenu were partners in a firm which they dissolved on 31st March, 2023. On this date, Balance Sheet of the firm, apart from realisable assets and outside liabilities showed the following:

4.93K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Srijan, Raman and Manan were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. On 31st March, 2017 their Balance sheet was as follows:

4.74K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Yogesh and Naresh were partners sharing profits equally. They dissolved the firm on 1st April, 2023. Naresh was assigned the responsibility to realise the assets and pay the liabilities at a remuneration of ₹ 10,000 including expenses.

5.22K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Prashant and Rajesh are partners in a firm sharing profits and losses in the ratio of 3 : 2. On 31st March, 2023, their Balance Sheet was:

5.92K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Michael, Jackson and John are in partnership sharing profits and losses in the proportion of 1/2, 1/3 and 1/6 respectively

5.96K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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Ashu and Harish are partners sharing profit and losses as 3 : 2. They decided to dissolve the firm on 31st March 2023. Their Balance sheet on the above date was:

4.54K viewsAnurag Pathak Changed status to publish July 31, 2023[CBSE] Dissolution of Partner [CBSE] TS Grewal Solutions

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