# Question 17 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-17 - CH-4 - Usha +2 Book 2018 - Solution

Question 17 Chapter 4 of +2-Part-1

17. (Comprehensive Illustration) X,Y and Z are sharing profits and losses in 5:3:2 ratio. They agreed to share profits and losses in the ratio of 2:3:5 with effect from 1st April 2019. They also decide to record the effect of the following accumulated profits, losses and reserves without effecting their book figures by passing a single entry.

 Book figures (in Rs.) General Reserve 6,000 Profit & Loss account 24,000 Advertisement Suspense account 12,000

Pass the necessary single adjustment entry.

## The solution of Question 17 Chapter 4 of +2 Part-1: –

Day - 63 | Solution of Questions Reconstitution of firm Chapter No. 4 | Accounts class 12 | PSEB |

 Journal Date Particulars L.F. Debit Credit Z’s Capital A/c Dr. 5,400 To X’s Capital A/c 5,400 (Being profits adjusted on account of change in profit ratio)

Working Notes: –

Old Ratio = 5 : 3 : 2
New Ratio = 2 : 3 : 5
Calculate the Sacrificing or Gaining Ratio of Partners
Sacrificing or Gaining Ratio = Old ratio – New ratio

 X’s Share Sacrificing/Gaining = 5 – 2 10 10
 = 5- 2 10
 = 3 (Sacrifice) 10

 Y’s Share Sacrificing/Gaining = 3 – 3 10 10
 = 3 – 3 10
 = 0 (Nil) 10

 Z’s Share Sacrificing/Gaining = 2 – 5 10 10
 = 2 – 5 10
 = -3 (Gain) 10

 Calculation of total adjustment profit Particulars Amount General Reserve 6,000 Profit & Loss account (Profit) 24,000 Advertisement Suspense account (-)12,000 Total adjustment profit 18,000

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

Question 03 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 4 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