# Question 36 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-36. - CH-2 - Usha +2 Book 2018 - Solution

Question 36 Chapter 5 of +2-Part-1

36. (Hidden Goodwill) A and B are partners with capitals of Rs. 8,000 and Rs. 6,000 respectively. They admit C as a partner with 1/4th share in the profit of the firm. C brings Rs. 8,000 as his share of capital. Give journal entries to record goodwill.

We are providing a solution of Question 36 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 36 to 38 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 36 from the following video by using time stamps of the video.

Day - 84 | Solution of Questions Admission of a Partner | Chapter No. 5 | Accounts class 12 | PSEB |

## The solution of Question 36 Chapter 5 of +2 Part-1: –

 Journal Date Particulars L.F. Debit Credit i) Cash A/c Dr. 8,000 To C’s Capital A/c 8,000 (Being cash brought by C as capital ) ii) C’s Current A/c Dr. 2,500 To A’s Capital A/c 1,250 To B’s Capital A/c 1,250 (Being C’s share of Goodwill adjusted in sacrificing ratio i.e. equall)

Working notes:

Calculation of hidden Goodwill: Total capital of the firm after C’s admission:
Rs.(8000+6000+8000)= Rs. 22,000

 Firm’s capital taking C’s capital as a base = 4 X 8,000 1 = Rs 32,000 Hidden Goodwill = Rs.(32,000-22,000) = Rs. 10,000
 C’s share of Goodwill = 1 X 10,000 4 = Rs 2,500

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

Question 07 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

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

Question 31 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 37 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 43 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 54 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 66 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