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

Q-16 - CH-6 - Usha +2 Book 2018 - Solution

Question 16 Chapter 6 of +2-Part-1

16. (Goodwill does not Exists in Books) X, Y, and Z were partners in a firm, sharing profits in the ratio of 3:2:1. Z retired, the new profit sharing ratio between X and Y was 1:2. On Z’s retirement, the goodwill of the firm was valued at Rs. 30,000. Pass necessary journal entry for the treatment of goodwill on Z’s retirement without raising goodwill account.

## The solution of Question 16 Chapter 6 of +2 Part-1: –

Day - 124 | Solution of Questions 11 to 17 Retirement of a Partner Chapter 6 Accounts class 12 PSEB

Total Goodwill of the firm (given ) =  Rs 30,000

 Z’s share in total profit = 1 6
 Z’s share in goodwill = 30,000 x 1 6 = Rs 5,000

New profit sharing ratio of X & Y = 1 : 2

 X’s gain = 1 – 3 3 6 = 1 (Sacrifice) 6
 Y’s gain = 2 – 2 3 6 = 2 (Gain) 6
 Journal Date Particulars L.F. Debit Credit a) Y’s capital A/c Dr. 10,000 To X’s capital A/c 5,000 To Z’s capital A/c 5,000 (Being goodwill adjusted )

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. 6 – Partnership Accounts – V (Retirement and Death of A Partner) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

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

Question 09 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 21 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 33 Chapter 6 of +2 Part- 1 – USHA Publication

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

Question 48 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

Question 60 Chapter 6 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

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication