Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Advertisement
Advertisement
Advertisement
Advertisement
Question 40 Chapter 5 of +2-Part-1
40. ( Revaluation A/c/Partners Cap. A/c/B/S) The following was the Balance sheet of A and B who were sharing profits in 2:1 :
| Liabilities | Rs | Assets | Rs. | |
| Sundry creditors | 65,900 | Building | 50,000 | |
| General reserve | 30,000 | Plant and machinery | 35,000 | |
| Capital Accounts | Stock | 20,000 | ||
| A | 30,000 | Sundry debtors | 9,700 | |
| B | 20,000 | 50,000 | Cash in hand | 1,200 |
| bank | 30,000 | |||
| 1,45,900 | 1,45,900 |
C is admitted into partnership on the following terms :
We are providing a solution of Question 40 Chapter 5 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 39 to 41 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 40 from the flowing video by using time stamps of the video.
Revaluation Account
| Particular |
Amount | Particular | Amount | ||
|---|---|---|---|---|---|
| To Stock | 1,000 | By Buildings | 5,000 | ||
| To Plant and Machinery | 1,750 | ||||
| To Provision for doubtful debts | 750 | ||||
| To Revaluation Profit | |||||
| - A 2/3 | 1,000 | ||||
| - B 1/3 | 500 | 1,500 | |||
| 5,000 | 5,000 | ||||
Partners’ Capital Account
| Particulars | A | B | C | Particulars | A | B | C |
|---|---|---|---|---|---|---|---|
| By Balance b/d | 30,000 | 20,000 | - | ||||
| By General Reserve A/c | 20,000 | 10,000 | - | ||||
| By Bank A/c | - | - | 15,000 | ||||
| By Revaluation A/c | 1,000 | 500 | - | ||||
| By Premium A/c | 4,000 | 2,000 | |||||
| To Balance c/d | 55,000 | 32,500 | 15,000 | ||||
| 55,000 | 32,500 | 15,000 | 55,000 | 32,500 | 15,000 |
Balance Sheet
| Liabilities |
Amount | Assets | Amount | ||
|---|---|---|---|---|---|
| Sundry creditors | 65,900 | Building | 55,000 | ||
| Plant and machinery | 33,250 | ||||
| Capital | Stock | 19,000 | |||
| A | 55,000 | Sundry debtors | 9,700 | ||
| B | 32,500 | Less Provision | 750 | 8,950 | |
| C | 15,000 | 1,02,500 | Cash in hand | 1,200 | |
| Bank (30,000+15,000+ 6,000) |
51,000 | ||||
| 1,68,400 | 1,68,400 | ||||
Thanks, Please Like and share with your friends
Comment if you have any questions.
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 40 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +2 Part 1.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 40 Chapter 5 of +2 Part-1 - USHA Publication 12 Class Part - 1" instantly.
31 July 2022
14 August 2022
