Question 14 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Posted by By Shubham Sharma 3 Min Read July 12, 2024
Question 14 Chapter 6 of +2- Part
Q-14 - CH-6 - Usha +2 Book 2018 - Solution

Question 14 Chapter 6 of +2-Part-1

14. (Valuation of retiring Partner’s Share in goodwill) L, M and O are partners, sharing profits and losses in the ratio of 4 : 3 : 2. M retires and the goodwill is valued at Rs. 72,000 Calculate M’s share in goodwill and pass necessary journal entry for the same, without opening goodwill account. L and O decided to share future profits and losses in 5: 3 ratio.

The solution of Question 14 Chapter 6 of +2 Part-1: –

Day - 124 | Solution of Questions 11 to 17 Retirement of a Partner Chapter 6 Accounts class 12 PSEB
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Total Goodwill of the firm (given ) =  Rs 72,000

M’s share in total profit = 3
9
M share in goodwill = 72,000 x 3
9
         
  = Rs 24,000    

Gaining ratio = New share – Old share

L’s gain = 5 – 4
8 9
         
  = 13    
  72    
O’s gain = 3 – 2
8 9
         
  = 11    
  72    

Gaining ratio = 13 : 11

Goodwill payable to L = 24,000 x 13
24
         
  = Rs 13,000    
Goodwill payable to O = 24,000 x 11
24
         
  = Rs 11,000    
Journal
Date   Particulars
 L.F. Debit Credit
a) L’s capital A/c Dr.   13,000  
  O’s capital A/c Dr.   11,000  
  To M’s capital A/c       24,000
  (Being goodwill adjusted in gaining ratio 13: 11)        
         

Comment if you have any questions.

End of Solution

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Question 01 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 03 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 05 Chapter 6 of +2- Part- 1 of USHA Publication Part – 1

Question 06 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 07 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 10 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 12 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 21 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 22 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 6 of +2 Part- 1 – USHA Publication 12 Class

Question 30 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 32 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 6 of +2 Part- 1 – USHA Publication

Question 34 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 35 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 36 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 37 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 38 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 6 of +2 Part- 1 – USHA Publication

Question 40 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 42 Chapter 6 of +2 Part- 1 – USHA Publication

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Question 43 Chapter 6 of +2 Part- 1 – USHA Publication

Question 44 Chapter 6 of +2 Part-1 – USHA Publication

Question 47 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 49 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 50 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 51 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 52 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 53 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 54 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 55 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 56 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 57 Chapter 6 of +2 Part- 1 – USHA Publication

Question 58 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 59 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 61 Chapter 6 of +2 Part- 1 – USHA Publication

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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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Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication

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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