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

Posted by By Shubham Sharma 3 Min Read July 12, 2024
Question 33 Chapter 2 of +2- Part-
Q-33 - CH-2 - Usha +2 Book 2018 - Solution

Question 33 Chapter 2 of +2-Part-1

33. (Profit & Loss App. A/c / Current a/c/ Interest on Drawings) A B and C are partners with fixed capitals of Rs.30,000. Rs.20,000 and Rs.10,000 respectively. They share profit and losses n the ratio of 3:2:1. Interest on Drawings is to be charged at the rate of 10% p.a. The capitals are also to be allowed interest @9% p.a.
The balance of current accounts on 1st Jan 2019 was A-Rs.16,000(Cr.), B- Rs.12,000(Cr.) and C-Rs.800(Dr.) Their drawings during the year were A-Rs.1200; B-Rs.1,000 and C- Rs.800. The profit of the year was Rs.17,130 before adjustment for interest as above.
Show the distribution of profit and draw up the capital and current accounts of the partners.

The solution of Question 33 Chapter 2 of +2 Part-1: – 

Day 38 | Illustration 30 and Question No 28 to 33 | Interest on drawing | Class 12 Accounts | Usha
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Profit and Loss Appropriation Account A/c
Particulars
 Amount Particulars
 Amount
To Interest on capital –     By Profit & Loss A/c   17,130
A 2,700   By interest on drawings:    
B 1,800   A 108  
C 900 5,400 B 90  
      C 72 270
To Net profit transferred to Current a/cs          
-A (1/2) 6,000        
-B (1/3) 4,000        
-C (1/6) 2,000 12,000      
           
    17,400     17,400

 

Partners’ Current Accounts
    
Particulars
 A B C Particulars
 A B C
To balance b/d   – – 800 By Balance B/d   16,000 12,000 –
To Drawings A/c   1,200 1,000 800 By Interest on Capital A/c   2,700 1,800 900
To Interest on Drawings A/c   108 90 72 By net profit   6,000 4,000 2,000
To Balance c/d   23,392 16,710
 1,228
          
                   
    24,700 17,800 2,900     24,700 17,800 2,900

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Question 01 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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Question 15 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 28 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 30 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 34 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 35 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 36 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 38 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 40 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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Question 42 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 43 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 44 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 46 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 47 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 50 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 51 Chapter 2 – USHA Publication 12 Class Part – 1

Question 52 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 56 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 57 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 59 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 61 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 62 Chapter 2 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)

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