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Arun, Basu and… (Class 12 Accountancy SQP 2025-26, Q15)

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AccountancyCBSE Class 12 · Sample paper, session 2025-26 · 1 mark · MCQ

CBSE Class 12 Accountancy sample paper 2025-26: question 15

From the official CBSE sample question paper for 2025-26, section A, question 15, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q15 · 1 mark · MCQDissolution of Partnership Firm

Arun, Basu and Tarun were partners sharing Profit &Loss in the ratio 5:3:2. Their firm was dissolved on March 31, 2025. On this date following assets and liabilities were appearing in their books of accounts.
Building ₹ 2,00,000 ; Furniture ₹ 80,000 ; Stock ₹ 70,000 ; Goodwill ₹ 10,000 ; Debtors ₹ 40,000 ; Cash ₹ 20,000 ; Creditors ₹ 50,000 ; Arun’s Loan ₹ 60,000 ; Tarun’s Brother Loan ₹ 30,000.
Assets realised at for ₹ 3,40,000. Determine the amount of Realisation Gain/Loss.

  1. (A)Realisation Loss ₹ 80,000
  2. (B)Realisation Gain ₹ 60,000
  3. (C)Realisation Loss ₹ 60,000
  4. (D)No Gain or Loss on Realisation

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2025-26.

Hints

Open one hint at a time and try again before the next.

Hint 1

Cash and a partner's loan are not transferred to Realisation Account.

Hint 2

Liabilities paid at book value cancel out.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Assets transferred to Realisation A/c (all except cash): Building 2,00,000 + Furniture 80,000 + Stock 70,000 + Goodwill 10,000 + Debtors 40,000 = ₹ 4,00,000. Outside liabilities (Creditors ₹ 50,000 and Tarun's brother's loan ₹ 30,000) are transferred in and paid off at book value, so they do not create a gain or loss. Arun's loan is not taken to Realisation A/c.

  2. Assets realise ₹ 3,40,000 against a book value of ₹ 4,00,000: Realisation loss = ₹ 60,000. Option (C).

    1 mark

Answer: (C) Realisation Loss ₹ 60,000

Where the marks are

  • Book value of assets ₹ 4,00,000 vs realised ₹ 3,40,000 (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Dissolution of Partnership Firm, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2025-26: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.