✓ Board-verified
Accountancy · 2023 · 1 mark
CBSE 2023 · Region 2 · Set 3 · Q12
Total assets of a partnership firm, which was dissolved were ₹ 30,00,000 and its total liabilities were ₹ 6,00,000. Assets were realised at 80% and…
Total assets of a partnership firm, which was dissolved were ₹ $\displaystyle 30,00,000$ and its total liabilities were ₹ $\displaystyle 6,00$,000. Assets were realised at $\displaystyle 80$% and liabilities were settled at $\displaystyle 5$% less. If dissolution expenses were ₹ $\displaystyle 30,000$, the profit or loss on dissolution was :
Official answer
(B)
Loss ₹ $\displaystyle 6,00,000$
Marking-scheme solution
(b)
Loss ₹$\displaystyle 6,00,000$
All Dissolution of Partnership Firm questions2023 question paperPractice Dissolution of Partnership Firm →
More from Dissolution of Partnership Firm
- Pass necessary Journal Entries for the following transactions, on the dissolution of a partnership firm of Kavita and Suman on 31st March, 2022,…2023
- Distinguish between 'Dissolution of Partnership' and 'Dissolution of Partnership Firm' on the basis of: (i) Closure of books (ii) Termination of…2022
- Pass necessary journal entries for the following transactions on the dissolution of the partnership firm of Mansha and Rajiv after various assets…2025
- Pass the necessary journal entries for the following transactions on the dissolution of the firm of Abhay and Mansi after various assets (other than…2024
- Rishi, Manu and Komal were partners in a firm sharing profits and losses in the ratio of 3: 4: 5. On 31st March, 2024 their firm was dissolved. After…2025
- Pass the necessary journal entries for the following transactions on the dissolution of the partnership firm of Sami and Usha after various assets…2025
- Pass necessary journal entries for the following transactions on the dissolution of a firm after various assets (other than cash) and outside…2023
- Which of the following will be transferred to Realisation Account at the time of dissolution of firm? (i) Provision for Doubtful Debts (ii) Partners…2023
CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.