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Question 22 Chapter 7 of +2 Part-1 – USHA Publication

Posted by By Shubham Sharma 8 Min Read July 13, 2024
Q-22. - CH-7 - Usha +2 Book 2018 - Solution

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Question 22 Chapter 7 of +2 Part-1 – USHA

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22. (Realisation A/e/Bank A/c/Capital A/e) X, Y and Z were in partnership 7 : 2 : 1 and the balance sheet of the firm on 31 December 2018 was:

Liabilities Rs.Assets Rs. 
Capitals  Stock 11,240
X12,410Debtors 8,740
Y 8,650Goodwill 10,000
Z80,620Patents 38,080
Creditors 11,210Bank 1,210
Plant deprecation reserve 20,000100 shares in X Ltd. At cost2,400
  1000 shares in Ltd. At cost10,000
  Plant 31,220
 1,32,890 1,32,890

It was agreed to dissolve the Partnership and the terms of dissolution were :

  1. X to take over the building at an agreed figure of Rs. 31,500.
  2. Y who was to carry on business, to take over the goodwill, stock and debtors at book values, the patents at Rs. 30,000 and the plant at Rs. 5,000. He was also to pay off the creditors.
  3. Z to take over shares in X Ltd. at Rs. 15 each.
  4. The shares in Y Ltd. are to be divided in the Profit sharing ratio.
    Give the necessary Ledge accounts recording the dissolution in the books of the firm

We are providing a solution of Question 22 Chapter 7 of +2 Part-1 – USHA 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 21 to 22 Chapter no. 7 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.

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Day 151 Solution of Questions 21 to 22 Dissolution of Partnership Firm Chapter 7 Accounts class 12
Watch this video on YouTube.

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

The solution of Question 22 Chapter 7 of +2 Part-1 – USHA: –

Realisation A/c
Particulars
AmountParticularsAmount
To Building 20,000By Creditors 11,210
To Plants 31,220By Plant depreciation reserve 20,000
To Goodwill 10,000By X’s Capital A/c  
To Shares in X Ltd. 2,400Building31,500 
To Stock in Y Ltd. 10,000Shares in Y Ltd.7,00038,500
To Stock 11,240By Y’s Capital A/c  
To Debtors 8,740Goodwill10,000 
To Patents 38,080Stock11,240 
To Y’s capital A/c (creditors) 11,210Debtors8,740 
   Patents30,000 
   Plants5,000 
   Shares in Y Ltd.2,00066,980
   By Z’s Capital A/c  
   Shares in X Ltd.1,500 
   Shares in Y Ltd.1,0002,500
      
   By loss transferred to Capital A/cs:  
   X2,590 
   Y740 
   Z3703,700
  1,42,890  1,42,890
Bank A/c
ParticularsAmountParticularsAmount
To balance b/d 1,210By Z’s capital A/c 77,750
To X’s capital A/c 28,680   
To Y’s capital A/c 47,860   
      
      
      
  77,750  77,750
X’s capital accounts
ParticularsAmountParticularsAmount
To Realisation A/c  By Balance b/d 12,410
 -building31,500 By Bank A/c 28,680
 -shares in Y ltd.7,00038,500   
To Realisation A/c loss 2,590   
      
      
  41,090  41,090
Y’s capital accounts
ParticularsAmountParticularsAmount
To Realisation A/c  By Balance b/d 8,650
Goodwill10,000 By Realisation A/c  
Stock11,240 Creditors 11,210
Debtors8,740 By Bank A/c 47,860
Patents30,000    
Plants5,000    
Shares in Y Ltd.2,00066,980   
To Realisation A/c loss 740   
      
  67,760  67,760

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Z’s capital accounts
ParticularsAmountParticularsAmount
To Realisation A/c  By Balance b/d 80,620
Shares in X Ltd.1,500    
Shares in Y Ltd.1,0002,500   
To Realisation A/c loss 370   
To Bank A/c 77,750   
      
  80,620  80,620

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. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 01 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 02 Chapter 7 of +2 Part-1 – USHA Publication

Question 03 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 04 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 05 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 06 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 09 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 10 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 12 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 16 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 18 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 22 Chapter 7 of +2 Part-1 – USHA Publication

Question 23 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 27 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 28 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 34 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 35 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 36 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 37 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 38 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 40 Chapter 7 of +2 Part – 1 – USHA Publication

Question 41 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 42 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 43 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 44 Chapter 7 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 45 Chapter 7 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.

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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)

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Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

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.

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

Accountancy – Part 2 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

Advanced Accountancy II Part 2 Class 12 – Solution for free

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