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 Part 1 Chapter 5 Dissolution of Partnership Firm in PDF format prepared as per the latest syllabus and examination pattern in your schools. Class 12 students should practice questions and answers given here for Accountancy in Class 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 teachers as per the latest Accountancy books and syllabus issued this academic year and solve important problems with solutions on daily basis to get more score in school exams and tests
Worksheet for Class 12 Accountancy Part 1 Chapter 5 Dissolution of Partnership Firm
Class 12 Accountancy students should refer to the following printable worksheet in Pdf for Part 1 Chapter 5 Dissolution of Partnership Firm in Class 12. This test paper with questions and answers for Class 12 will be very useful for exams and help you to score good marks
Class 12 Accountancy Worksheet for Part 1 Chapter 5 Dissolution of Partnership Firm
Question. A partnership firm is compulsorily dissolved) :
(a) When the business of the firm is declared illegal
(b) When a partner of the firm dies
(c) When a partner of the firm becomes insolvent
(d) When a partner transfers his share to some other person without the consent of other partners
Answer: A
Question. Sundry Creditors amounted to Rs.8,000. These were paid at a discount of 5%.
Realisation account will be debited by
(a) Rs.8,000
(b) Rs.7,600
(c) Rs.400
(d) Rs. 8,400
Answer: B
Question. On dissolution of a firm, its Balance Sheet revealed total creditors Rs.50,000; Total Capital Rs.48,000; Cash Balance Rs.3,000. Its assets were realised at 12% less. Loss on realisation will be :
(a) Rs.6,000
(b) Rs. 11,760
(c) Rs. 11,400
(d) Rs.3,600
Answer: C
Question. When a Partner dies, amount due to him will be paid to:
(a) Gainer partner
(b) His Executor
(c) Remaining Partners
(d) None of the options
Answer: B
Question. 30.Sundry creditors amounted to ₹ 8,000. They were paid at a discount of 5 %. Realisation A/c will be debited by :
(a) ₹ 8,000
(b) ₹ 7,600
(c) ₹ 400
(d) ₹ 8,400
Answer: B
Question. P, a partner, is to bear all expenses of realisation for which he is to be paid Rs.2,000. P had to pay realisation expenses of Rs.2,500. How much amount will be debited to Realisation Account?
(a) Rs.500
(b) Rs.2,500
(c) Rs.4,500
(d) Rs.2,000
Answer: D
Question. On dissolution of the firm, amount received from sale of unrecorded asset is credited to :
(a) Partner’s Capital Accounts
(b) Profit and Loss Account
(c) Realisation Account
(d) Cash Account
Answer: C
Question. At the time of dissolution^ partner gives his personal asset to firm's creditor in settlement, the account credited will be
(a) Realisation A/c.
(b) Partner's Capital A/c.
(c) Cash A/c.
(d) Creditor's A/c.
Answer: B
Question. In case of dissolution, assets are transferred to Realisation Account:
(a) At Market Value
(b) Cost or Market Value, whichever is lower
(c) At Book Value
(d) None of the Above
Answer: C
Question. After transferring liabilities like creditors and bills payables in the realisation account, in the absence of any information regarding then payment, such liabilities are treated as
(a) Fully paid
(b) Partly paid
(c) Never Paid
(d) None of the options
Answer: A
Question. On dissolution of the firm, partners capital accounts are closed through
(a) Bank account
(b) Drawings account
(c) Realisation account
(d) Partners capital account
Answer: A
Question. W, X, Y and Z are equal partners, W, X and Z died together in plane crash, this accidents results in
(a) Dissolution of partnership
(b) Dissolution of partnership as well as firm
(c) Dissolution of firm
(d) None of the options
Answer: B
Question. Anukalp and Karan are partners with the capital of Rs. 25000 and 15000 respectively, Interest payable on capital is 10% P.A, find the Interest on capital for both the partners when the profits earned by the firm is Rs 2400
(a) 1500 and 900
(b) 2500 and 1500
(c) 1200 and 1500
(d) None of the options
Answer: A
Question. Calculate on interest on drawing @ 12% p.a for Abhishek if he withdraw Rs. 2000 once in month
(a) 1220
(b) 1320
(c) 1440
(d) 1300
Answer: C
Question. On firm’s dissolution, a partner undertook firm’s creditors at Rs. 17,000. In this case the account will be credited :
(a) Creditors A/c
(b) Cash A/c
(c) Realisation A/c
(d) Partner’s Capital A/c
Answer: D
Question. Change in the existing agreement between the partners is called :
(a) Dissolution of Firm
(b) Dissolution of Partnership
(c) Dissolution of Business
(d) All of the Above
Answer: B
Question. There was an Unrecorded asset of Rs.2,000 which was taken over by a partner at Rs. 1,500. Partner’s Capital Account will be debited by ............
(a) Rs.2,000
(b) Rs. 1,500
(c) Rs.500
(d) Rs.3,500
Answer: B
Question. On dissolution of a firm, a partner’s capital account has a credit balance of Rs.42,000. His share of profit in realisation account is Rs. 9,000. He has paid firm’s realisation expenses Rs.3,000. He will finally get a payment of:
(a) Rs.39,000
(b) Rs.42,000
(c) Rs.54,000
(d) Rs.48,000
Answer: C
Question. On dissolution, if a partner pays firm's liability which ofthe following account is debited?
(a) Profit and Loss Account
(b) Realisation Account.
(c) Partner's Capital Account
(d) Cash Account
Answer: B
Question. Investments of Rs. 2,00,000 were not shown in the books. One of the creditors took these investments in settlement of his debt of Rs. 2,20,000. How much amount will be payable to that creditor?
(a) Rs. 20,000
(b) Rs. 2,20,000
(c) Rs. 4,20,000
(d) Nil
Answer: D
Question. Which of the following is transferred to Realisation Account :
(a) Balance of Cash Account
(b) Balance of Profit & Loss Account
(c) Amount realised on sale of assets
(d) Reserves
Answer: C
Please click the link below to download full pdf file for CBSE Class 12 Accountancy Dissolution of Partnership Firm (2).
CBSE Class 12 Accountancy Accounting for Not-for-Profit Organisation Worksheet |
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 Admission Of Partner Worksheet Set A |
CBSE Class 12 Accountancy Admission Of Partner Worksheet Set B |
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set A |
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set B |
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set C |
CBSE Class 12 Accountancy Retirement And Death Of Partner Worksheet Set D |
CBSE Class 12 Accountancy Dissolution Of Partnership Firm Worksheet Set A |
CBSE Class 12 Accountancy Dissolution Of Partnership Firm Worksheet Set B |
CBSE Class 12 Accountancy Share Capital Worksheet Set A |
CBSE Class 12 Accountancy Share Capital Worksheet Set B |
CBSE Class 12 Accountancy Debentures Worksheet |
CBSE Class 12 Accountancy Financial Statements Of Company 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 |
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CBSE Class 12 Accountancy Part 1 Chapter 5 Dissolution of Partnership Firm Worksheet
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Worksheet for Accountancy CBSE Class 12 Part 1 Chapter 5 Dissolution of Partnership Firm
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Part 1 Chapter 5 Dissolution of Partnership Firm worksheet Accountancy CBSE Class 12
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Part 1 Chapter 5 Dissolution of Partnership Firm CBSE Class 12 Accountancy Worksheet
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Worksheet for CBSE Accountancy Class 12 Part 1 Chapter 5 Dissolution of Partnership Firm
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