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

Posted by By Shubham Sharma 4 Min Read July 12, 2024
Question 37 Chapter 2 of +2- Part-
Q-37 - CH-2 - Usha +2 Book 2018 - Solution

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Question 37 Chapter 2 of +2-Part-1

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37. (Treatment of salary and Commission) Pass Journal Entries for the following transactions and the relevant transfer entries to profit and loss appropriation account :
(a) Salary Rs.3,000 p.m. payable to partner X and Rs.4,000 p.m. to Y.
(b) Interest on Capital is allowed @10% p.a. on capital of Rs.1,00,000 and Rs.70,000 to X and Y respectively.
(c) Commission 5% is payable to Z on the profit of Rs.40,000.

The solution of Question 37 Chapter 2 of +2 Part-1: – 

Day - 41 | Questions of Partners Salary, Commission & Fees | Partnership - I Accounts class 12 |
Watch this video on YouTube.

Journal
DateParticulars
L.FDebit Credit
a)Partners’ Salary A/cDr. 84,000 
 To X’s Capital A/c   36,000
 To Y’s Capital A/c   48,000
 (Being salary due to partners)    
      
 Profit and Loss Appropriation A/c  84,000 
 To Partners’ Salary A/c   84,000
 (Being salary due to transferred to Profit and loss Appropriation A/c)    
      
b)Interest on capital A/cDr. 17,000 
 To X’s Capital A/c   10,000
 To Y’s Capital A/c   7,000
 (Being interest on capital allowed)    
      
 Profit and Loss Appropriation A/cDr. 17,000 
 To Interest on capital A/c   17,000
 (Being Interest on capital transferred to Profit and loss Appropriation A/c)    
      
c)Commission A/cDr. 2,000 
 To Z’s Capital A/c   2,000
 (Being interest on Capital allowed)    
      
 Profit and Loss Appropriation A/cDr. 2,000 
 To Z’s Commission A/c   2,000
 (Being commission transferred to Profit and loss Appropriation A/c)    
      
 Profit and Loss A/cDr. 1,03,000 
 To Partners’ Salary A/c   84,000
 To Interest on capital A/c   17,000
 To Commission A/c   2,000
 (Being expenses transferred to Profit and loss account )    
      

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

Question 02 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 03 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 04 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 05 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 06 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 08 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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

Question 14 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

Question 16 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 20 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 24 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 26 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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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

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

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

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

Question 49 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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

Question 53 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 55 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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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

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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)

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Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

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