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

Question 08 Chapter 4 of +2- Part-

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

  • Chapter No. 1 – Accounting Not for Profit Organisations
  • Chapter No. 2 – Partnership Accounts – I
  • Chapter No. 3 – Partnership Accounts – II (Introduction)
  • Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
  • Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
  • Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
  • Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
  • Chapter No. 8 – Company Accounts (Share Capital)
  • Chapter No. 9 – Company Accounts (Issue of Debentures)
  • Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

  • Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
  • Chapter No. 2 – Techniques of Financial Statement Analysis
  • Chapter No. 3 – Ratio Analysis 
  • Chapter No. 4 – Cash Flow Statement

    Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

    • Chapter No. 1 – Accounting Not for Profit Organisations
    • Chapter No. 2 – Partnership Accounts – I
    • Chapter No. 3 – Partnership Accounts – II (Introduction)
    • Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
    • Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
    • Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
    • Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
    • Chapter No. 8 – Company Accounts (Share Capital)
    • Chapter No. 9 – Company Accounts (Issue of Debentures)
    • Chapter No. 10 – Company Accounts (Redemption of Debentures)

    Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

    • Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
    • Chapter No. 2 – Techniques of Financial Statement Analysis
    • Chapter No. 3 – Ratio Analysis 
    • Chapter No. 4 – Cash Flow Statement

Question 08 Chapter 4 of +2-Part-1

8. (Profit and loss account/ Reserve are closed) P and Q are partners in 2:1 ratio. They have decided to share the profit in 3:2 ratio. They have Rs.60,000 in profit and loss a/c and Rs.18,000 in General Reserve. They decided to distribute profits and reserve before changing their ratio.
Pass adjustment.

 

The solution of Question 08 Chapter 4 of +2 Part-1: – 

 

Distribution of profit and general reserve or reconstitution of partnership
Particulars
P Q
     
Partners share out of Profit & Loss a/c in 2:1 ratio (Cr.)40,000 (Cr.)20,000
Partners share out of General Reserve a/c in 2:1 ratio (Cr.)12,000 (Cr.)6,000
     
Net Effect (Cr.)52,000 (Cr.)26,000

 

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I

Chapter No. 3 – Partnership Accounts – II (Introduction)

Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)

Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)

Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)

Chapter No. 2 – Techniques of Financial Statement Analysis

Chapter No. 3 – Ratio Analysis 

Chapter No. 4 – Cash Flow Statement

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2 Book 1 min - Question 08 Chapter 4 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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