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

Q-5 - CH-4 - Usha +2 Book 2018 - Solution

Question 05 Chapter 4 of +2-Part-1

5. (Goodwill exist in the balance sheet) P, Q and R are partners in 4:3:3 ratio. The new ratio is 1:2:2. Goodwill already in the books Rs.75,000 and at the time of change in ratio it is valued at Rs.1,05,000. Pass entries in journal:

## The solution of Question 05 Chapter 4 of +2 Part-1: –

Day - 61 | Solution of Questions Reconstitution of firm Chapter No. 4 | Accounts class 12 | PSEB |

 Journal Date Particulars L.F. Debit Credit (1) P’s Capital A/c (75000*4/10) Dr. 30,000 Q’s Capital A/c (75000*3/10) Dr. 22,500 R’s Capital A/c (75000*3/10) Dr. 22,500 To Goodwill A/c 75,000 (Being amount of goodwill written off in the old profit sharing ratio) (2) Q’s Capital A/c Dr. 10,500 R’s Capital A/c Dr. 10,500 To P’s Capital A/c 21,000 (Being amount of goodwill on change in profit sharing ratio)

Working Note:-

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

 P’s  Sacrificing/Gaining Share = 4 – 1 10 5
 = 4 – 2 10
 = 2 (Sacrifice) 10

 Q’s  Sacrificing/Gaining Share = 3 – 2 10 5

 = 3 – 4 10
 = 1 (Gain) 10

 R’s Sacrificing/Gaining Share = 3 – 2 10 5
 = 3 – 4 10
 = – 1 (Gain) 15

Comment if you have any questions.

End of Solution

## Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 05 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 17 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

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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)

## Check out Part 2 of both books.

In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.

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