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

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

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
X 12,410 Debtors  8,740
Y  8,650 Goodwill  10,000
Z 80,620 Patents  38,080
Creditors  11,210 Bank  1,210
Plant deprecation reserve  20,000 100 shares in X Ltd. At cost 2,400
    1000 shares in Ltd. At cost 10,000
    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.

Day 151 Solution of Questions 21 to 22 Dissolution of Partnership Firm Chapter 7 Accounts class 12
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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
 Amount Particulars Amount
To Building   20,000 By Creditors   11,210
To Plants   31,220 By Plant depreciation reserve   20,000
To Goodwill   10,000 By X’s Capital A/c    
To Shares in X Ltd.   2,400 Building 31,500  
To Stock in Y Ltd.   10,000 Shares in Y Ltd. 7,000 38,500
To Stock   11,240 By Y’s Capital A/c    
To Debtors   8,740 Goodwill 10,000  
To Patents   38,080 Stock 11,240  
To Y’s capital A/c (creditors)   11,210 Debtors 8,740  
      Patents 30,000  
      Plants 5,000  
      Shares in Y Ltd. 2,000 66,980
      By Z’s Capital A/c    
      Shares in X Ltd. 1,500  
      Shares in Y Ltd. 1,000 2,500
           
      By loss transferred to Capital A/cs:    
      X 2,590  
      Y 740  
      Z 370 3,700
    1,42,890     1,42,890
Bank A/c
Particulars Amount Particulars Amount
To balance b/d   1,210 By 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
Particulars Amount Particulars Amount
To Realisation A/c     By Balance b/d   12,410
 -building 31,500   By Bank A/c   28,680
 -shares in Y ltd. 7,000 38,500      
To Realisation A/c loss   2,590      
           
           
    41,090     41,090
Y’s capital accounts
Particulars Amount Particulars Amount
To Realisation A/c     By Balance b/d   8,650
Goodwill 10,000   By Realisation A/c    
Stock 11,240   Creditors   11,210
Debtors 8,740   By Bank A/c   47,860
Patents 30,000        
Plants 5,000        
Shares in Y Ltd. 2,000 66,980      
To Realisation A/c loss   740      
           
    67,760     67,760
Z’s capital accounts
Particulars Amount Particulars Amount
To Realisation A/c     By Balance b/d   80,620
Shares in X Ltd. 1,500        
Shares in Y Ltd. 1,000 2,500      
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

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

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

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

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

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

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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

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

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

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

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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

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

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

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

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

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

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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

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

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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

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.

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)

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

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2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

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