Read and download free pdf of CBSE Class 12 Accountancy Dissolution Of Partnership Firm Worksheet Set B. Students and teachers of Class 12 Accountancy can get free printable Worksheets for Class 12 Accountancy in PDF format prepared as per the latest syllabus and examination pattern in your schools. Standard 12 students should practice questions and answers given here for Accountancy in Grade 12 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 12 Accountancy Worksheets prepared by school teachers as per the latest NCERT, CBSE, KVS books and syllabus issued this academic year and solve important problems provided here with solutions on daily basis to get more score in school exams and tests
Dissolution Of Partnership Firm Class 12 Accountancy Worksheet Pdf
Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Dissolution Of Partnership Firm in standard 12. This test paper with questions and answers for Grade 12 Accountancy will be very useful for exams and help you to score good marks
Class 12 Accountancy Worksheet for Dissolution Of Partnership Firm
MCQ Questions for NCERT Class 12 Accountancy Dissolution Of Partnership Firm
Question: Anu, Bina and Charan are partners. The firm had given a loan of Rs 20,000 to Bina. They decided to dissolve the firm. In the event of dissolution, the loan will be settled by:
(a)Transferring it to debit side of Realisation A/c
(b) Transferring it to credit side of Realisation A/c
(c) Transferring it to debit side of Bina’s capital account
(d) Bina paying Anu and Charan privately
Question: After settlement of dissolving firm, bank account may have_________ balance.
Question: At the time of dissolution of firm, at which stage the balance of partner’s capital accounts is paid?
(a) After making payment to third party loan
(b) Before making payment of partners in respect of their loans
(c) After making the payment to third party for their loans as well as partners loans
(d) None of the above
Question: Goodwill already appearing in the balance sheet of the firm will be transferred on the ______ side of _________ account
(a) Debit, capital
(b) debit, realization
(c) debit, bank
(d) credit , bank
Question: On dissolution of the firm, partner’s capital accounts are closed through
(a) Realisation a/c
(b) Drawings a/c
(c) bank a/c
(d) loan a/c
Question: On firm’s dissolution , when a partner voluntarily gives his personal asset to firm’s creditor as payment, the account credited will be
(a) Realization A/c
(b) Partner’s Capital A/c
(c) Cash A/c
(d) None of the A/c
Question: Investments valued Rs. 2,00,000 were not shown in the books. One of the creditors took over these investments in full satisfaction of his debt of Rs. 2,20,000. How much amount will be deducted from creditors?
(a) Rs. 20,000
(b) Rs. 2,20,000
(c) Rs. 4,20,000
(d) Rs. 2,00,000
Question: At the time of dissolution of firm,’ loan of partners’(loans given by partners to the firm) is paid out of the amount realized on sale of assets:
(a) After making the payment of loans given by third party
(b) After making payment of balance of Capital Accounts of partners
(c) After making the payment of above (a) and (b)
(d) Before the payment of loans given by third party
Question: On dissolution of a firm, Realisation A/c is debited with
(a) All the liabilities of the firm
(b) cash received on the sale of assets
(c ) Any asset taken over by one of the partners
(d) All assets to be realized
Question: If opening capitals of partners are A Rs. 3,00,000, B Rs.2,00,000 and C Rs. 1,00,000 and their drawings during the year are A Rs. 50,000, B Rs. 40,000 and C Rs. 30,000 and creditors are Rs. 60,000, what will be the amount of assets of the firm?
(a) Rs 5,40,000
(b) Rs 4,20,000
(c) Rs 4,80,000
(d) Rs 6,60,000
Fill in the blanks:
Question: No entry is required when any __________ accepts fixed assets in lieu of his balance(due).
Question: Provision for doubtful debts is transferred on the __________ side of _________ account, in case of dissolution.
Answer: Credit, realisation
Question: Partner’s loan on the asset side is transferred on the _______ side of ______account.
Answer: Debit, capital
Question: Under partnership at __________, any partner may ask for dissolution of the firm.
Question: _____ debts are paid by the firm through firm’s _________ at the time of dissolution.
Answer: Firm’s, assets
Question: At the time of dissolution, after settling all the accounts ________ account automatically closed.
Question: At the time of dissolution, loan from partner’s relative is transferred to ______ account.
Question: If the question is silent about settlement of any liability, it is assumed that amount _________ to ___________ is paid.
Answer:Equal, book value
Question: Workmen Compensation Reserve was nil and liability was Rs. 15000. In such a situation _________ account is debited and _________ account is credited.
Answer: Realisation , Bank
Question: Debtors Rs. 2,64,000, Provision for Doubtful Debts Rs. 24,000, Rs. 48000 of the book debts proved bad. The amount realized from debtors is ___________.
Match the column :
1. Dissolution of a firm which, on any ground, is regarded to be just and equitable A. Dissolution on the happening of certain contingencies
2. Dissolution of a firm by the death of a partner, subject to contract between the partners. B. Dissolution by court
3. Dissolution of a firm when some event has taken place which makes it unlawful for the partners. C. Compulsory Dissolution
4. Dissolution of a firm in accordance with a contract between the partner D. Dissolution by Agreement
Answer: 1- B, 2- A , 3-C , 4-D
Please click the link below to download full pdf file for CBSE Class 12 Accountancy Dissolution of Partnership Firm (1).
Click for more Accountancy Study Material ›
|CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set A|
|CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set B|
|CBSE Class 12 Accountancy Accounting For Partnership Firms Worksheet Set C|
|CBSE Class 12 Accountancy Debentures Worksheet|
|CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set A|
|CBSE Class 12 Accountancy Financial Statements Of Company Worksheet Set B|
|CBSE Class 12 Accountancy Analysis Of Financial Statements Worksheet|
|CBSE Class 12 Accountancy Financial Analysis And Tools For Financial Analysis Worksheet|
|CBSE Class 12 Accountancy Ratio Analysis Worksheet|
|CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set A|
|CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set B|
|CBSE Class 12 Accountancy Cash Flow Statement Worksheet Set C|