# Question 25 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-25. - CH-2 - Usha +2 Book 2018 - Solution

Question 25 Chapter 5 of +2-Part-1

25.(Profits at the end of the year are given) P and S are partners sharing profits in the ratio 3:2. their books showed goodwill at Rs. 20,000, R is admitted with the 1/5 share which he acquires equally from P and s. R brings Rs. 20,000 as his capital and Rs. 10,000 as his share of goodwill. Profits at the end of the year were of the amount of Rs. 1,00,000. you are required to give journal entries to carry out the above arrangement.

We are providing a solution of Question 25 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 24 to 32 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 25 from the flowing video by using time stamps of the video.

Day - 82 | Solution of Questions 24 to 32 | Admission of a Partner | Accounts class 12 | PSEB |

## The solution of Question 25 Chapter 5 of +2 Part-1: –

 Journal Date Particulars L.F. Debit Credit i) P’s Capital A/c Dr. 12,000 S’s Capital A/c Dr. 8,000 To Goodwill A/c 20,000 (Being existing goodwill written off) ii) Cash A/c Dr. 30,000 To R’s Capital A/c 20,000 To Premium for Goodwill A/c 10,000 (Being capital and premium brought in by R) iii) Premium for Goodwill A/c Dr. 10,000 To P’s Capital A/c 5,000 To S’s Capital A/c 5,000 (Being goodwill distributed among old partners in their sacrificing ratio i.e. 1 : 1) iv) Profit and loss A/c Dr. 1,00,000 To P’s Capital A/c 50,000 To S’s Capital A/c 30,000 To R’s Capital A/c 20,000 (Being Profit Rs. 1,00,000 distributed among all partners in their new ratio 5:3:2 )

Calculation of new profit sharing ratio:-

 D’s share = 1 5

Sacrifice share of P & S = 1 : 1

 P’s Sacrificed Share = 1 X 1 5 2 = 1 10
 S’s Sacrificed Share = 1 X 1 5 2 = 1 10
 P’s New Share = 3 – 1 5 10 = 5 10

 S’s New Share = 2 – 1 5 10 = 3 10
 R’s Share = 1 X 2 5 2 = 2 10

New Profit Sharing Ratio = 5 : 3 : 2

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. 5 – Partnership Accounts – IV (Admission of A Partner) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 05 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 35 Chapter 5 of Class 12 Part – 1 – USHA Publication

Question 41 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 46 Chapter 5 of +2 Part-1 – USHA Publication

Question 52 Chapter 5 of +2 Part-1 – USHA Publication

Question 58 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 64 Chapter 5 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

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication