Question 04 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Posted by By Shubham Sharma 3 Min Read July 12, 2024
Question 04 Chapter 4 of +2- Part-
Q-4 - CH-4 - Usha +2 Book 2018 - Solution

Question 04 Chapter 4 of +2-Part-1

4. (Goodwill doesn’t exist) X, Y and Z are partners sharing profits in 5:3:2 ratio. From 1st January 2016, they decide to share profits and losses in 2:5:3 ratio. The partnership deed provides that in the event of any change in profit sharing ratio, the goodwill is valued at Rs.54,000. Give the necessary single adjusting entry to record the above transaction.

The solution of Question 04 Chapter 4 of +2 Part-1: – 

Day - 61 | Solution of Questions Reconstitution of firm Chapter No. 4 | Accounts class 12 | PSEB |
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Old Ratio of X, Y, & Z = 5 : 3: 2
New Ratio of X, Y, & Z = 2: 5 : 3

Calculate the Sacrificing or Gaining Ratio of Partners
Sacrificing or Gaining Ratio = Old Ratio – New Ratio

X’s Sacrificing/Gaining Share  = 5 – 2
10 10
  = 5 – 2
  10
  = 3 (Sacrifice)
  10

 

Y’s Sacrificing/Gaining Share = 3 – 5
10 10
  = 3 – 5
  10
  = -2 (Gain)
  10

 

Z’s Sacrificing/Gaining Share  = 2 – 3
10 10
  = 2 – 3
  10
  = -1 (Gain)
  10

 

Journal
Date Particulars
 L.F. Debit Credit
2016          
Jan 1 Y’s Capital A/c (54,000 X 2/10) Dr.   10,800  
  Z’s Capital A/c (54,000 X 1/10) Dr.   5,400  
  To X’s Capital A/c       16,200
  (Being amount of goodwill adjusted as the change in profit sharing ratio)      

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Question 01 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 02 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 03 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 04 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 05 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 06 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 10 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 12 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 17 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 20 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 4 of USHA Publication 12 Class Part – 1

Question 25 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 26 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Parat – 1

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Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

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Check out Part 2 of both books.

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1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 2 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

Advanced Accountancy II Part 2 Class 12 – Solution for free

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