T S Grewal Solutions 2026-27 [Class 12] – Dissolution of a Partnership Firm – Q 41 to 46

Solution for Q 41 to 46 of Chapter 7 of T S Grewal Class 12 Accountancy 2026-27 are given below. The Chapter name is Dissolution of a Partnership Firm from Partnership Accounts class 12. These Solutions are based on topics Journal entries at the time of dissolution and Preparation of Realization A/c, preparatio of partners capital A/c and cash/bank account. These also covers preparation of memorandum balance sheet and memorandm partners capital Account

Working notes are given with each solution. These help in understanding the steps and are also important for board exams as marks are given for steps.

These solutions are also useful for CA Foundation, CS Foundation and CMA Foundation students. The solutions will be helpful for students as well as teachers teaching class 12 accounts.

Question 41

Memorandum Partners Capital A/c For the year ended 31-Mar-2026
Particulars	Ramu	Laxman	Bharat	Particulars	Ramu	Laxman	Bharat
				By Balance B/d	100000	80000	60000
To P&L Appr- Loss	20000	15000	15000
To Bank (Drawings)	10000	10000	10000

To Balance C/d	70000	55000	35000

Total	100000	80000	60000	Total	100000	80000	60000

Then we prepare Memorandum Balance

Memorandum Balance Sheet As on 31-Mar-2026
Liabilities		Amount	Assets	Amount
Ramu's Capital A/c	70000		Cash in Hand	4000
Laxman's Capital A/c	55000
Bharat's Capital A/c	35000	160000	Sundry Assets	180000
Sundry Creditors		24000	(Balancing Figue)


Total		184000	Total	184000

Realization A/c
Particulars			Amount	Particulars		Amount
To Sundry Assets			180000	By Sundry Creditors		24000

To Bank A/c - Creditors			23500	By Bank A/c - Assets		300000

To Profit on Realization Transferred
A's Capital A/c		48200
B's Capital A/c		36150
C's Capital A/c		36150	120500


	Total		324000		Total	324000

Note : Following not required in the question. Given here only for reference

Partners Capital A/c as on 31-Mar-2026
Particulars	A	B	C	Particulars	A	B	C
				By Balance B/d	70000	55000	35000
				By Realization A/c	48200	36150	36150
				(Profit)

To Bank A/c	118200	91150	71150

Total	118200	91150	71150	Total	118200	91150	71150

Bank A/c
Particulars	Amount	Particulars		Amount
To Balance B/d	4000	By Realization A/c - Liabilities		23500

		By Partners Capital A/c
To Realization A/c - Assets	300000	A	118200
		B	91150
		C	71150	280500

Total	304000	Total		304000

▶ Video Solution: Coming Soon

Question 42

Same question as question number 41. The solution given above

▶ Video Solution: Coming Soon

Question 43

Memorandum Balance Sheet
Liabilities		Amount	Assets	Amount
Priya's Cap A/c	20000		Cash in Hand	5000
Komal's CaP A/c	20000		Sundry Assets	83000
Rakhi's Cap A/c	20000	60000

Sundry Liabilities		28000
(Balancing Figure)

Total		88000	Total	88000

Realization A/c
Particulars			Amount	Particulars			Amount
To Sundry Assets			83000	By Liabilities			28000

To Bank A/c				By Bank A/c
Sundry Liabilities (At BV)		28000			Sundry Assets	76000
Contingent Liability		8000	36000		Unrecorded Asset	4000	80000
				By Loss on realization transferred :
					Priya's Capital A/c	5500
					Komal's Capital A/c	2750
					Rakhi's Capital A/c	2750	11000


	Total		119000		Total		119000

Partners Capital A/c
Particulars	Priya	Komal	Rakhi	Particulars	Priya	Komal	Rakhi
				By Balance B/d	20000	20000	20000
To Realization A/c	5500	2750	2750
(Loss)

To Bank A/c	14500	17250	17250

Total	20000	20000	20000	Total	20000	20000	20000

Bank A/c
Particulars	Amount	Particulars			Amount
To Balance B/d	5000	By Realization A/c - Liabilities			36000
To Realization A/c - Assets	80000
		By Partner Capital A/c
			A	14500
			B	17250
			C	17250	49000

Total	85000	Total			85000

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Question 44

Memorandum Balance Sheet
Liabilities		Amount	Assets	Amount
A's Capital A/c	170000		Sundry Assets	480000
B's Capital A/c	30000	200000	(Balancing Figure)

Loan from A		100000	Loan to B	20000
Trade Creditors		200000




Total		500000	Total	500000

Realization A/c
Particulars		Amount	Particulars			Amount
To Sundry Assets		480000	By Creditors			200000

To Bank A/c - Creditors		200000	By Bank A/c - Sundry Assets			450000

			By Loss on Realization transferred :
			A's Capital A/c		20000
			B's Capital A/c		10000	30000

	Total	680000		Total		680000

Note :

Partners Capital A/c
Particulars	A	B	Particulars	A	B
			By Balance B/d	170000	30000
To Realization A/c	20000	10000
To Loan to B		20000

To Bank A/c	150000	0

Total	170000	30000	Total	170000	30000

Bank A/c
Particulars	Amount	Particulars			Amount
To Balance B/d	0	By Realization A/c - Liabilities			200000
To Realization A/c - Assets	450000	By Loan from A			100000
		By Partner Capital A/c
			Angad	150000
					150000

Total	450000	Total			450000

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Question 45

Memorandum Balance Sheet
Liabilities		Amount	Assets	Amount
X's Capital A/c	40000		Sundry Assets	94000
Y's Capital A/c	30000	70000	(Balancing Figure)

Creditors		24000

Total		94000	Total	94000

Realization A/c
Particulars		Amount	Particulars			Amount
To Sundry Assets		94000	By Creditors			24000

To Bank A/c - Creditors		7500	By Bank A/c - Sundry Assets			88500
To Bank A/c - Expenses		500
To X's Capital A/c - Creditors		14000

			By Loss on Realization transferred :
				X's Capital A/c	2100
				Y's Capital A/c	1400	3500

	Total	116000		Total		116000

Note :

Partners Capital A/c
Particulars	X	Y	Particulars	X	Y
			By Balance B/d	40000	30000
To Realization A/c-Loss	2100	1400
			By Realization A/c - Creditors	14000

To Bank A/c	51900	28600

Total	54000	30000	Total	54000	30000

Bank A/c
Particulars	Amount	Particulars			Amount
To Balance B/d	0	By Realization A/c - Creditors			7500
To Realization A/c - Assets	88500	By Realization A/c - Expenses			500
		By Partner Capital A/c
			X	51900
			Y	28600	80500


Total	88500	Total			88500

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Question 46

Memorandum Partners Capital A/c to find capital balance on 01-Apr-2025
Particulars	P	Q	R	Particulars	P	Q	R
				By Balance B/d	30000	30000	20000
To Drawings	8000	7000	5000
				By Interest on Capital	1500	1500	1000
				By Profit & Loss Appr	9000	9000	6000


To Balance C/d	32500	33500	22000

Total	40500	40500	27000	Total	40500	40500	27000

Note :

Preparation of Capital A/c as on 01-Apr-2025

Date of dissolution : 31-Mar-2026

Capital Balance given in question as on : 01-Apr-2025

So first we have to find the capital balances as on date of dissolution i.e. 31-Mar-2026

Treatment of General Reserve :

In this capital A/c for finding the balance as on date of dissolution we will not distribute general reserve

General reserve will be distributed in the subsequent capital A/c which we will prepare for making

dissolution adjustments

Note :

The opening capital (01-Apr-2024) was in their profit sharing proportions.

The question gives the total capital of the firm

	Opening Capital	Int on capital
		(2024-2025)
P	80000 X 3/8	30000X5/100	1500
Q	80000 X 3/8	30000X5/100	1500
R	80000 X 2/8	20000X5/100	1000
		Total Interest on cap	4000

Note :

Profit distributed in 2024-2025
Total Profits earned by firm		28000
Less - Interest on Capital		4000
Balance Profits		24000

P's share	(24000*3/8)	9000
Q's share	(24000*3/8)	9000
R's share	(24000*2/8)	6000

Memorandum Balance Sheet As on 31-Mar-2026
Liabilities		Amount	Assets	Amount
P's Capital A/c	32500
Q's Capital A/c	33500		Sundry Assets	126000
R's Capital A/c	22000	88000	(Balancing Figure)
General Reserve		20000
Liabilities		18000

Total		126000	Total	126000

Realization A/c
Particulars		Amount	Particulars			Amount
To Sundry Assets		126000	By Liabilities			18000
To Bank A/c			By Bank A/c
	Liabilities-At BV	18000		Sundry Assets		108600

To Bank A/c - Expenses		1800	By Loss on realization transferred :
				P's Capital A/c	7200
				Q's Capital A/c	7200
				R's Capital A/c	4800	19200


	Total	145800		Total		145800

Partners Capital A/c at the time of Dissolution
Particulars	P	Q	R	Particulars	P	Q	R
				By Balance B/d	32500	33500	22000
To Realization A/c - Loss	7200	7200	4800	By General Reserve	7500	7500	5000

To Bank A/c	32800	33800	22200

Total	40000	41000	27000	Total	40000	41000	27000

Bank A/c
Particulars	Amount	Particulars			Amount
To Balance B/d	0	By Realization A/c - Liabilities			18000
To Realization A/c - Assets	108600	By Realization A/c - Expenses			1800
		By Partner Capital A/c
			P	32800
			Q	33800
			R	22200	88800



Total	108600	Total			108600

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Q 1-10 | Q 11-20 | Q 21-30 | Q 31-40 | Q 41-46

T S Grewal Solutions – Dissolution of a Partnership Firm– All Questions

T S Grewal Solutions Class 12 2026-27 – All Chapters

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