# Question 25 Chapter 2 of Class 12 Part – 1 VK Publication

Question 25 Chapter 2 of Class 12 Part - 1 VK Publication

Question 25 Chapter 2 of Class 12 Part – 1

25. Mina and Tina are partners sharing profits and losses in the ratio of 4:1 with capital contribution of Rs. 50,000 and Rs.75,000 respectively. The partnership firm is working in the premises owned by Tina.
Monthly rent of Rs. 8,000 is fixed for the premises.
Show the distribution of profits/losses for the year ending on 31st March, 2018 in the following cases:
(a) If the profits for the year before charging rent of premises are Rs. 1,32,000.
(b) If the profits for the year before charging rent of premises are Rs. 64,000
(c) If the loss for the year before charging rent of premises are Rs. 40,000.

## The solution of Question 25 Chapter 2 of Class 12 Part – 1: –

Case a:

Profit and Loss Account

 Particulars Amount Particulars Amount To Rent Of Premises A/C ( 8,000 x 12) 96,000 By Profit b/d 1,32,000 To Profit and Loss Appropriation A/c 36,000 1,32,000 1,32,000

Profit and Loss Appreciation Account

 Particulars Amount Particulars Amount To Profit Transferred To Capital A/C’s By Profit and Loss A/c 36,000 Mina 28,800 Tina 7,200 36,000 36,000 36,000

Case b:

Profit and Loss Account

 Particulars Amount Particulars Amount To Rent Of Premises A/C ( 8,000 x 12) 96,000 By Profit b/d 64,000 By loss Transferred to Partner’s Capital A/cs: Mina 25,600 Tina 6,400 32,000 96,000 96,000

Case c:

Profit and Loss Account

 Particulars Amount Particulars Amount To Loss b/d 40,000 By loss Transferred to Partner’s Capital A/cs: To Rent Of Premises A/C 96,000 Mina 1,08,800 Tina 27,200 1,36,000 1,36,000 1,36,000

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

Chapter No. 1 – Accounting Not for Profit Organisations

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)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

Chapter No. 1 – Financial Statements of a Company

Chapter No. 2 – Financial Statement Analysis

Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 4 – Ratio Analysis

Chapter No. 5 – Cash Flow Statement