Dissolution of Partnership Firm · Class 12 Accountancy · Chapter 5
📑 Dissolution of Partnership Firm
CBSE Class 12 Humanities & Commerce · Accountancy Part I · Chapter 1
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| 92% | Prepare Realisation A/c, Partners' Capital A/cs and Cash A/c — Lock the 3 T-accounts on the answer sheet FIRST. Transfer assets → liabilities → realisations → payments → close to capital. 6-7 minutes. | 6 MARKS |
| 58% | Garner v Murray application with one insolvent partner — Show capitals BEFORE loss (Step 1), debit PSR loss (Step 2), then transfer insolvent's deficiency to solvent in CAPITAL ratio (Step 3). Mark each step in margin. | 6 MARKS |
| 33% | Distinguish Dissolution of Partnership vs Dissolution of Firm — Always TABULAR with at least 4 bases. Cite Sec 39 in opening line. | 3 MARKS |
| 47% | Journal entries for closing books at dissolution — Group into 5 logical blocks (A-E). Narrate each. Do NOT pass cash entries until block D. | 5 MARKS |
| 47% | Treatment of unrecorded assets / liabilities / realisation expenses — Each scenario = 2 marks of marginal entry. Memorise the 4 expense-treatment variants verbatim. | 3 MARKS |
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