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Question 34 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 34 Chapter 5 of +2- Part-
Q-34. - CH-2 - Usha +2 Book 2018 - Solution

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Question 34 Chapter 5 of +2-Part-1

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34. (Goodwill is brought in kind) X, Y and Z were doing business in 3:2:1 ratio. A was admitted for 1/6th share which was given to him by X and Y equally. A gave stock Rs. 30,000; Debtors Rs. 10,000; Computer Rs. 20,000 on account of his capital and goodwill. Total value of goodwill was Rs. 48,000. Pass Journal entries.

We are providing a solution of Question 34 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 33 to 35 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 34 from the flowing video by using time stamps of the video.

2. Check out the Solution of this question in Article Format:-

The solution of Question 34 Chapter 5 of +2 Part-1: – 

Journal
DateParticulars
L.F.DebitCredit
      
i)Stock A/cDr. 30,000 
 Debtors A/cDr. 10,000 
 Office equipment A/cDr. 20,000 
 To A’s Capital A/c   52,000
 To Premium A/c   8,000
 (Being assets brought in by A as capital and goodwill )   
     
ii)Premium A/cDr. 8,000 
 To X’s Capital A/c   4,000
 To Y’s Capital A/c   4,000
 (Being 1/6 of goodwill of the firm charged from A’s capital account and distributed equally among X and Y)    
     

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Also, Check out the solved question of previous Chapters: –

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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