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Question 22 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 5 of +2- Part-
Q-22. - CH-2 - Usha +2 Book 2018 - Solution

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Question 22 Chapter 5 of +2-Part-1

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22.( NPS/Goodwill brought in cash )A, B, and C are partners in ratio 3:2:1. D is admitted for 1/6 share which sacrificed by a. D introduced cash Rs. 90,000 including Rs. 8,000 for goodwill. Pass journal entries and find out the new ratio.

We are providing a solution of Question 22 Chapter 5 of +2 Part-1 in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of question numbers from 12 to 23 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 22 from the flowing video by using time stamps of the video.

2. Check out the Solution of this question in Article Format:-

The solution of Question 22 Chapter 5 of +2 Part-1: – 

Journal
DateParticulars
L.F.DebitCredit
      
i)Cash A/cDr. 90,000 
 To D’s Capital A/c   82,000
 To Premium A/c   8,000
 (Being cash brought by D as capital and premium)   
     
ii)Premium A/cDr. 8,000 
 To A’s Capital A/c  8,000
 (Being goodwill transferred to A’s capital)   
     

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Calculation of new profit sharing ratio

Whole of the sacrifice for S has been made by A, so there will be no change in the profit share of B and C.
A’s new share = Old share – New share

 =31
66
     
 =2  
 6 
New Ratio=2:2:1:1
6666
         
 =2;2:1:1

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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