# Question 18 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-18 - CH-4 - Usha +2 Book 2018 - Solution

Question 18 Chapter 4 of +2-Part-1

18. (Treatment of Workmen Compensation Reserve) X, Y and Z are partners in 2:3:1 ratio. The new ratio will be 1:2:3. Extract of the balance sheet was followed:

 Liabilities Amount Workmen Compensation Reserve 30,000

Show accounting treatment in each of the following:

1. If there is no other information .
2. If a claim on account of workmen compensation in due Rs.6,000.
3. If a claim on account of workmen compensation in due Rs.33,000.

## The solution of Question 18 Chapter 4 of +2 Part-1: –

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

(i) If there is no other information.

 Journal Date Particulars L.F. Debit Credit Workmen Compensation Reserve a/c Dr. 30,000 To X’s Capital A/c (30,000 X 2/6) 10,000 To Y’s Capital A/c (30,000 X 3/6) 15,000 To Z’s Capital A/c (30,000 X  1/6) 5,000 (Being WCR credited in 2:3:1 ratio)

(ii) If a claim on account of workmen compensation in due Rs.6,000.

 Journal Date Particulars L.F. Debit Credit Workmen Compensation Reserve a/c Dr. 30,000 To Claim Payable A/c 6,000 To X’s Capital A/c 8,000 To Y’s Capital A/c 12,000 To Z’s Capital A/c 4,000 (Being WCR credited in 2:3:1 ratio)

(iii) If a claim on account of workmen compensation in due Rs.33,000.

 Journal Date Particulars L.F. Debit Credit Revaluation a/c Dr. 3,000 Workmen Compensation Reserve a/c Dr. 30,000 To Claim Payable A/c 33,000 (Being claim payable) X’s Capital A/c Dr. 1,000 Y’s Capital A/c Dr. 1,500 Z’s Capital A/c Dr. 500 To Revaluation A/c 3,000 (Being WCR credited in 2:3:1 ratio)

Comment if you have any questions.

End of Solution

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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.