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

Q-17 - CH-6 - Usha +2 Book 2018 - Solution

Question 17 Chapter 6 of +2-Part-1

17. (Amount of Goodwill Credited to Deceased Partner) P, R, and S are in partnership, sharing profits in the ratio of 4: 3: 1 respectively. It is provided in the partnership deed that, on the death of any partner, his share of goodwill is to be valued at half the profits credited to his account during the previous four completed years.
R dies on 1st January 2017. The firm’s profit for the last four years, 2013- Rs. 1,20,000; 2014- Rs. 80,000 ; 2015- Rs.40,000: 2016-80,000. Determine the amount that should be credited to R in respect of his share in goodwill.

## The solution of Question 17 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 profits of the previous 4 years

 2013 = 1,20,000 2014 = 80,000 2015 = 40,000 2016 = 80,000 = 3,20,000
 R’s share in firm’s total profit = 3 8
 Total profits credited to R in previous 4 years = 3,20,000 x 3 8 = Rs 1,20,000

Share of Goodwill to Payable to R = Total Profit credited to R in Last 4 Years x 1 / 4

 Share of Goodwill to Payable to R = 1,20,000 x 1 2 = Rs 60,000

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. 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