# Question 26 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Q-26 - CH-4 - Usha +2 Book 2018 - Solution

Question 26 Chapter 4 of +2-Part-1

26. (Adjustment of Capital) A, B and C were partners, sharing profits and losses in 4:3:2 ratio respectively. They changed their profit sharing ratio to 2:4:3. On 31st March 2018, when their capitals after necessary adjustments stood at Rs.39,300; Rs.39,600 and Rs.18,300 respectively. The entire capital of the newly constituted firm is fixed at Rs.1,08,000 as per new profit sharing ratio. Calculate the actual cash to be paid off or to be brought in by the partners and pass necessary journal entries.

## The solution of Question 26 Chapter 4 of +2 Part-1: –

Day - 65 | Solution of Questions Reconstitution of firm Chapter No. 4 | Accounts class 12 | PSEB |

Total capital of Reconstituted Firm = Rs.1,08,000

 Particular A B C New profit sharing ratio = 2:4:3 A’s Capital (1,08,000*2/9) 24,000 – – B’s Capital (1,08,000*4/9) – 48,00 – C’s Capital (1,08,000*3/9) – – 36,000

(ii) Calculation of cash to be brought in or paid off to partners:

 Particular A B C Partners’ capitals in Reconstituted firm 24,000 48,000 36,000 Existing capitals of partners 39,300 39,600 18,300 Cash to be brought/paid off (15,300) (8,400) (17,700) C’s Capital (1,08,000*3/9) Paid off Brought Brought

 Journal Date Particulars L.F. Debit Credit (i) A’s Capital a/c Dr. 15,300 To Cash a/c 15,300 (Being excess capital withdrawn by partner) (ii) Cash a/c Dr. 26,100 To B’s Capital a/c 8,400 To C’s Capital a/c 17,700 (Being shortage in the capital brought in by partners)

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. 4 – Partnership Accounts – III (Reconstitution of Partnership) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 05 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 4 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 4 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)

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)

## 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