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Maharashtra Board Class 12 Solutions for Accountancy Chapter 6 Dissolution of Partnership Firm - PDF

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Last updated date: 19th May 2024
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Maharashtra Board Class 12th Solutions for Accountancy Chapter 6 Dissolution of Partnership Firm – Download PDF with Solutions

One of the most important chapters included in the syllabus of Class 12 Maharashtra Board is called Dissolution of Partnership Firm. The chapter effectively describes the final stage of a business closure. When the partnership relations between the partners of the firm come to an end, it results in the dissolution of the partnership and firm. In this chapter, students will be able to understand the procedures included in the dissolution of the firm. To get into more details, students can get some help from Vedantu.

Download the important notes and solutions provided by the subject matter experts at Vedantu and understand the chapter easily. These notes have been created by expert teachers who are well-versed with the topic. The notes and solutions act as resourceful study materials for students who want to understand the chapter easily. Download Maharashtra Board 12th Textbook Solutions Chapter 6 Dissolution of Partnership Firm today.

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Importance of Maharashtra Board Accountancy Class 12 Chapter 6

The chapter Dissolution of a Partnership Firm has a significant weightage of marks in the examination. So, for students who want to perform well in their exams and score great marks on the 12th board, it is important to prepare this chapter well. This is where the notes and solutions from Vedantu can help them out. Students must first read the chapter thoroughly before getting into the exercise questions and solutions.

The chapter introduces students to different concepts related to the dissolution of a partnership firm. Students will get familiar with the process of dissolution, and what stages occur during the process. There are some important topics such as Realization Account, Deficiency of Creditor, the difference between the dissolution of a partnership firm and dissolution of the partnership, unrecorded liabilities and assets, balance sheets, etc. The students will also learn about the relationship between the debts of the firm and the private debt of the partners.

The chapter enables students to understand the meaning as well as reasons for the dissolution of any particular partnership firm. They will learn the effects of the dissolution of the partnership firm. They will be familiar with the concept of the different accounting treatments for the settlement of the accounts. By thoroughly reading the chapter, students will learn accounting procedures and insolvency-related concerns as well. Taking help from the Maharashtra Board Book Keeping and Accountancy 12th Notes Chapter 6 Dissolution of Partnership Firm.


Benefits of MSBSHSE Class 12 Accountancy Chapter 6 Solutions

  • The solutions that have been offered by Vedantu experts are accurate and contain all the details of the chapter with proper explanations and examples to help students properly understand the concepts in the best way. 

  • After gaining a proper understanding of the chapter from the solutions, students can be confident enough to solve other complicated questions related to the chapter on their own.

  • There are practical examples such as balance sheets, financial statements, and other exhibits in the chapter to give a better understanding to students.

Prepare for Exams With MSBSHSE Class 12 Accountancy Chapter 6 Solutions 

Learn more about a partnership ending or closure of business by downloading Maharashtra Board 12th Important Questions Chapter 6 Dissolution of Partnership Firm from Vedantu. Students can download the study materials for free and start their preparation for exams.

FAQs on Maharashtra Board Class 12 Solutions for Accountancy Chapter 6 Dissolution of Partnership Firm - PDF

1. What is the dissolution of a partnership firm?

The dissolution of a partnership firm refers to the situation where the relationship between all the partners of the firm is dissolved. 

2. What are the different modes of dissolution of a firm?

The different modes for dissolution of firms include mutual agreement, by notice, dissolution by the court, compulsory dissolution, etc. 

3. What is the accounting treatment on the dissolution of the firm?

The following accounts are prepared during the beginning of the process of dissolution: 

  • Realisation A/c

  • Partner’s loan A/c

  • Partner’s capital A/c

  • Bank or cash A/c

4. Where are unrecorded liabilities debited when it is paid?

The unrecorded liabilities will be debited to the Realization Account. 

5. Where are the dissolution expenses credited to?

The expenses for the dissolution are credited to Cash/Bank Account.