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

Posted by By Shubham Sharma 2 Min Read July 12, 2024
Question 11 Chapter 2 of +2- Part-
Q-11 - CH-2 - Usha +2 Book 2018 - Solution

Question 11 Chapter 2 of +2-Part-1

11. (Interest on Loan) As per the information provided by Dara and Gala, partners in a firm in Jammu, they do not have an agreement on the sharing of profits. Dara and Gala have advanced loan Rs 90,000 in 2:1 ratio on 1st April 2018 @ 12% p.a. However, on 1st January 2019, Dara further gave Rs.50,000 to the firm as loan.
You are required to calculate interest on the loan for the year.

The solution of Question 11 Chapter 2 of +2 Part-1: – 

Day - 28 | Questions 1 to 12 | Illustrations 2 - 4 | Partnership Chapter 2 | PSEB Class 12 Accounts
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Interest on Loan:

Dara Loan = Rs.90,000 x 2/3 = Rs.60,000

Interest on Loan (one year) = Rs.60,000 x 12/100 = 7,200
Interest on Loan Rs.50,000 for 3 months = Rs.50,000 x 12/100 x 3/12 = 1,500
Total Interest on Dara’s Loan = 8,700

Gala Loan = Rs.90,000 x 1/3 = Rs.30,000
Interest on Loan (one year) = Rs.30,000 x 12/100 = Rs.3,600
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Question 11 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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Question 42 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 43 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 58 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 59 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 61 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 62 Chapter 2 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)

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

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