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

Q-6 - CH-2 - Usha +2 Book 2018 - Solution

Question 06 Chapter 2 of +2-Part-1

6. (No Partnership Deed) Mahesh and Ramesh are partners with capitals of Rs. 50,000 and Rs.60,000 respectively. On 1st January 2013, Mahesh gives a loan of Rs.10,000 and Ramesh introduced Rs.20,000 as additional capital. Profit for the year ending 31st March 2013 was Rs.15,200. There is no partnership deed. Both Mahesh and Ramesh expect interest @ 10% p.a. on the loan and additional capital advanced by them. Show how the profits would be divided? Give reasons.

### The solution of Question 06 Chapter 2 of +2 Part-1: –

 Distribution of Profits of the firm: Particulars Mahesh Ramesh Interest on Loan (3 months) 10,000×6/100×3/12 150 – Net Profit (15,200-150) 7,525 7,525 7,675 7,525

Note:
1. No interest will be allowed on partners’ capital.
2. Interest on loan and additional capital will be allowed as per mutual agreement.
3. Balance of profits are distributed equally.

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. 2 – Partnership Accounts – I (Introduction) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

### Question 62 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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### Download a PDF of Chapter No. 2 – Partnership Accounts – I (Introduction):

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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

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication