# 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.

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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.

## 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 A/c 10,000 (Being capital and premium brought in by R) iii) Premium A/c Dr. 10,000 To P’s Capital A/c 5,000 To Cash A/c 5,000 (Being goodwill distributed equally ) 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 in the new ratio 3:2 )

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