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Chapter No. 2 – Partnership Accounts – I (Basic Concepts) – Unimax Publications Class +2 – Solution

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Partnership Accounts are an important topic covered in the Class 12th Accountancy syllabus. As part of this topic, students are introduced to the basic concepts of partnership accounting. One of the popular textbooks used in Indian schools for this subject is the Unimax Accounts Class 12 book. In this article, we will discuss the solutions to Chapter No. 2 – Partnership Accounts – I (Basic Concepts) – Unimax Accounts Class 12 book.

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Unimax Accounts Class 12 Book

The Unimax Accounts Class 12 book is a comprehensive guide that covers all the topics related to partnership accounting. The book is authored by experienced teachers and subject matter experts, and it is designed to cater to the needs of students who are preparing for their board exams. The book contains detailed explanations of all the concepts, along with examples and practice questions to help students grasp the concepts better.

Chapter No. 2 – Partnership Accounts – I (Basic Concepts)

Chapter No. 2 – Partnership Accounts – I (Basic Concepts) is an important chapter in the Unimax Accounts Class 12 book. This chapter introduces students to the basic concepts of partnership accounting. The chapter covers a wide range of topics, including the definition of partnership, types of partnerships, partnership deeds, and the accounting treatment of various partnership transactions.

Definition of Partnership

The chapter begins with an introduction to the concept of partnership. It defines partnership as the relationship between two or more persons who agree to share the profits of a business carried on by all or any of them acting for all.

Types of Partnerships

The chapter then goes on to explain the different types of partnerships, such as general partnerships, limited partnerships, and joint ventures.

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Partnership Deeds

Next, the chapter discusses the importance of partnership deeds. It explains that a partnership deed is a written agreement between the partners that outlines the terms and conditions of the partnership. The chapter explains the various clauses that are typically included in a partnership deed, such as the name of the partnership, the capital contributions of each partner, the profit-sharing ratio, and the rights and responsibilities of each partner.

Accounting Treatment of Partnership Transactions

The chapter then moves on to discuss the accounting treatment of various partnership transactions. It covers topics such as the recording of capital contributions, the treatment of profits and losses, the distribution of profits, and the preparation of the profit and loss appropriation account.

Examples and Practice Questions

In order to help students understand the concepts better, the chapter also includes several examples and practice questions. These questions are designed to test the students’ understanding of the concepts covered in the chapter and to help them prepare for their board exams.

Conclusion

In conclusion, Chapter No. 2 – Partnership Accounts – I (Basic Concepts) from the Unimax Accounts Class 12 book is an important chapter that introduces students to the basic concepts of partnership accounting. The chapter covers a wide range of topics and includes several examples and practice questions to help students understand the concepts better. The Unimax Accounts Class 12 book is an excellent resource for students who are looking for a comprehensive guide to partnership accounting, and it is highly recommended for those who are preparing for their board exams.

Check out the full article on what is a partnership- meaning and types

What is Partnership – Meaning and Its 4 Types

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Chapter No. 2 – Partnership Accounts – I (Basic Concepts) – Unimax Publications Class +2 – Solution

Below, you can find solutions to all the questions in Chapter 2 of the Unimax Publications Class +2 book on Partnership Accounts – I (Basic Concepts). These solutions are designed to help you understand the material better and prepare for any exams or assessments related to the chapter.

Question 1 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 1 Chapter 2 - Unimax Class 12 Part 1 1. A and B are partners in a firm. State ...
Question 2 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 2 Chapter 2 - Unimax Class 12 Part 1 2. A and B commenced business in partnership on 1st ...
Question 3 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 3 Chapter 2 - Unimax Class 12 Part 1 3. A and B are partners. They do not have ...

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Question 4 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 4 Chapter 2 - Unimax Class 12 Part 1 4. Partners P and Q have Capitals Rs. 400000 and ...
Question 5 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 5 Chapter 2 - Unimax Class 12 Part 1 5. On 1st January, 2021 A and B entered into ...
Question 6 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 6 Chapter 2 - Unimax Class 12 Part 1 6. P and Q are partners sharing Profits and Losses ...
Question 7Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 7 Chapter 2 - Unimax Class 12 Part 1 7. Pass necessary Journal entries and prepare Profit and Loss ...

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Question 8 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 8 Chapter 2 - Unimax Class 12 Part 1 8. A and B are partners sharing Profits in ratio ...
Question 9Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 9 Chapter 2 - Unimax Class 12 Part 1 9. X and Y have capitals of Rs. 30000 and ...
Question 10Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 10 Chapter 2 - Unimax Class 12 Part 1 10. A and B started business on 1st January, 2021 ...
Question 11 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 11 Chapter 2 - Unimax Class 12 Part 1 11. X and Y are partners and they had Rs ...
Question 12 Chapter 2 - Unimax Class 12 Part 1 12. A and B arc two partners sharing profits and ...

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Question 13Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 13 Chapter 2 - Unimax Class 12 Part 1 13. Partners X, withdrew Rs. 3000 per month during 2021 ...
Question 14Cha0pter 2 - Unimax Class 12 Part 1 - 2021
Question 14 Chapter 2 - Unimax Class 12 Part 1 14. Partner Y’s drawings along with date of drawings are ...
Question 15 Chapter 2 - Unimax Class 12 Part 1-2021
Question 15 Chapter 2 - Unimax Class 12 Part 1 15. Partner Z withdrew Rs. 47000 during the year. Calculate ...
Question 16 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 16 Chapter 2 - Unimax Class 12 Part 1 16. A, B, C, D and E are five partners ...

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Question 17Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 17 Chapter 2 - Unimax Class 12 Part 1 17. Ram withdrew Rs. 1500 at the end of each ...
Question 18 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 18 Chapter 2 - Unimax Class 12 Part 1 18. Find out interest on drawings at 5% per annum ...
Question 19 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 19 Chapter 2 - Unimax Class 12 Part 1 19. Form the following Balance Sheet of A and B ...
Question 20 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 20 Chapter 2 - Unimax Class 12 Part 1 20. P and Q are partners sharing profits and losses ...
Question 21 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 21 Chapter 2 - Unimax Class 12 Part 1 21. (a) A and B are partners in a firm ...

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Question 22Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 22 Chapter 2 - Unimax Class 12 Part 1 22. A and B are partners sharing profits in the ...
Question 23 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 22 Chapter 2 - Unimax Class 12 Part 1 23. A and B are partners in a firm. A ...
Question 24 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 24 Chapter 2 - Unimax Class 12 Part 1 24. A starts a business on 1st January, 2021 with ...
Question 25 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 25 Chapter 2 - Unimax Class 12 Part 1 25. X and Y started business on 1st January, 2021 ...

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Question 26 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 26 Chapter 2 - Unimax Class 12 Part 1 26. Show how the following will be recorded in the ...
Question 27 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 27 Chapter 2 - Unimax Class 12 Part 1 27. Show how the following will be recorded in the ...
Question 28 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 28 Chapter 2 - Unimax Class 12 Part 1 28. Varun and Sahil are partners in a firm. Their ...
Question 29 Chapter 2 - Unimax Class 12 Part 1
Question 29 Chapter 2 - Unimax Class 12 Part 1 29.Amar and Akbar are two partners sharing profits and losses ...
Question 30 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 30 Chapter 2 - Unimax Class 12 Part 1 30. Y and Z are partners with opening capitals of ...

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Question 31 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 31 Chapter 2 - Unimax Class 12 Part 1 31. Kanu and Shruti are partners sharing profits in the ration ...
Question 32 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 32 Chapter 2 - Unimax Class 12 Part 1 32. A and B are partners sharing profit in proportion ...
Question 33 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 33 Chapter 2 - Unimax Class 12 Part 1 33. Alisha, Aman and Meenu are three partners. On 1st ...
Question 34 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 34 Chapter 2 - Unimax Class 12 Part 1 34. A and B are partners sharing profit in the ...

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Question 35 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 35 Chapter 2 - Unimax Class 12 Part 1 35. Aman and Guneet are partners. As on 1st April, ...
Question 36 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 36 Chapter 2 - Unimax Class 12 Part 1 36. A, B and C are three partners sharing profits ...
Question 37 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 37 Chapter 2 - Unimax Class 12 Part 1 37. The partnership agreement of Kanu and Shruti provides that ...
Question 39 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 39 Chapter 2 - Unimax Class 12 Part 1 39. On 1st April, 2020 A, B and C start ...
Question 38 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 38 Chapter 2 - Unimax Class 12 Part 1 38. X and Y are partners. As on 1st April, ...

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Question 40 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 40 Chapter 2 - Unimax Class 12 Part 1 40. Prepare the Capital Accounts of partners P and Q ...
Question 41Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 41 Chapter 2 - Unimax Class 12 Part 1 41. Ram and Gopal are partners in a firm sharing ...
Question 42Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 42 Chapter 2 - Unimax Class 12 Part 1 42. Ketak, Varun and Mohit are in partnership sharing profits ...
Question 43 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 43 Chapter 2 - Unimax Class 12 Part 1 43. Ravish and Sanchit were partners in a firm sharing ...

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Question 44 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 44 Chapter 2 - Unimax Class 12 Part 1 44. X, Y and Z are in partnership sharing profits ...
Question 45 Chapter 2 - Unimax Class 12 Part 1 - 2021
Question 45 Chapter 2 - Unimax Class 12 Part 1 45. Ketak, Varun and Mohit are in partnership sharing profits ...

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