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

Question 21 Chapter 6 of +2- Part
Q-21 - CH-6 - Usha +2 Book 2018 - Solution

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Question 21 Chapter 6 of +2-Part-1

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21. (Hidden goodwill) X, Y and Z are partners in 2 : 3 :5 ratio. Z retires. His capital was Rs. 80,000 and profit from revaluation Rs. 60,000. However, continuing partners agreed to pay firm Rs. 1,90,000. Record necessary entry for goodwill.

The solution of Question 21 Chapter 6 of +2 Part-1: –

Day - 125 | Solution of Questions 18 to 23 Retirement of a Partner Chapter 6 Accounts class 12 PSEB

Calculation of hidden goodwill=Value of the firm – Amount payable
 =Rs. [1,90,000- (80,000-60,000)]
 =Rs. 50,000
Hidden goodwill=Rs 50,000
Journal
Date  Particulars
L.F.DebitCredit
a)X’s capital A/cDr. 10,000 
 Y’s capital A/cDr. 15,000 
 To Z’s capital A/c   25,000
 (Being goodwill adjusted through capital a/cs in gaining ratio i.e. 2 : 3)    
     

Comment if you have any questions.


End of Solution

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

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

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

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

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

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

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

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

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Question 56 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)

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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

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

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