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

Q-35 - CH-2 - Usha +2 Book 2018 - Solution

Question 35 Chapter 2 of +2-Part-1

35. (Interest on Laon/Different cases) Sad and Happy are partners in 2:1 ratio. On 1st April,2016 they gave loan of Rs.50,000 and Rs.40,000 to the firm. Show the distribution of profits in the following cases for the year ended 31.3.2016 :
(a) Profit before interest Rs.6,900.
(b) Profit before interest Rs.4,500.
(c) Loss before interest Rs.600.

## The solution of Question 35 Chapter 2 of +2 Part-1: –

Day - 39 | Interest on Loan with Example & Questions | Partnership - I | Accounts Class 12 | PSEB |

Case(a) : Profit before interest Rs.6,900

 Profit and Loss Account A/c Particulars Amount Particulars Amount To Interest on the loan By Profit before interest 6,900 Sad (50,000 X 6%) 3,000 -Happy (40,000 X 6%) 2,400 5,400 To Net profit transferred to Capital a/cs -Sad’s Capital a/c (2/3) 1,000 -Happy’s Capital a/c (1/3) 500 1,500 6,900 6,900

Case(b) : Profit before interest Rs.4,500

 Profit and Loss Account A/c Particulars Amount Particulars Amount To Interest on the loan By Profit before interest 4,500 Sad (50,000 X 6%) 3,000 -Happy (40,000 X 6%) 2,400 5,400 By Loss transferred to: -Sad’s Capital a/c (2/3) 600 -Happy’s Capital a/c(1/3) 300 900 5,400 5,400

Case(c) : Profit before interest Rs.600

 Profit and Loss Account A/c Particulars Amount Particulars Amount To loss before interest 600 To Interest on loan- 3,000 Sad (50,000 X 6%) -Happy (40,000 X 6%) 2,400 5,400 By Loss transferred to: -Sad’s Capital a/c (2/3) 4,000 -Happy’s Capital a/c(1/3) 2,000 6,000 6,000 6,000

Comment if you have any questions.

End of Solution

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### 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)

## 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