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

Q-37. - CH-2 - Usha +2 Book 2018 - Solution

Question 37 Chapter 5 of +2-Part-1

37. (Comprehensive) A, B and C are partners in 3 : 2: 1 ratio. They admitted D and the new ratio is 4: 4:1 1. D will bring capital 1,25,000. The goodwill is valued at Rs. 1,00,000 Record the entries in journal in the following cases:
(a) Goodwill is brought in cash by new partner.
(b) Goodwill is brought in cash by new partner and goodwill already appears at Rs. 37,500.
(c) Goodwill is brought in cash by new partners and it is withdrawn
(d) Goodwill is brought in cash new partner Rs. 7,500.by A and C.
(e) Goodwill is brought in cash by new partner Rs. 7,500 and goodwill exists Rs. 50,000.Goodwill is not brought in cash.
(g) Goodwill is brought in cash and goodwill exist in books Rs. 1,50,000.
(h) Goodwill is brought in the form of equipment of Rs. 5,000 but valued at Rs. 7,500 by the firm.

We are providing a solution of Question 37 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. 37 from the flowing 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 37 Chapter 5 of +2 Part-1: –

 Journal Date Particulars L.F. Debit Credit a) Cash A/c Dr. 1,25,000 To D’s Capital A/c 1,25,000 (Being cash brought in by D as a Capital) i) Cash A/c Dr. 1000 To Premium for Goodwill A/c 1,000 (Being share of goodwill brought by D in cash) ii) Premium for Goodwill A/c Dr. 10,000 B’s Capital A/c (1,00,000 X 1/15) Dr. 6,667 To A’s Capital A/c 10,000 To C’s Capital A/c 6,667 (Being sacrificing partner compensated by new partner & partner B in their sacrificing ratio i.e. 3 : 2) b) Entry 2 (i) and (ii) and the following entries A’s Capital A/c Dr. 18,750 B’s Capital A/c Dr. 12,500 C’s Capital A/c Dr. 6,250 To Goodwill A/c 37,500 (Being goodwill written off) c) Entry 2 (i) and (ii) and the following entries A’s Capital A/c Dr. 6,000 C’s Capital A/c Dr. 4,000 To Cash A/c 10,000 (Being goodwill withdrawn by A and C) d) Cash A/c Dr. 7,500 D’s Current A/c Dr. 2,500 To Premium for Goodwill A/c 10,000 (Being goodwill brought in by D ₹ 7,500 in cash and balance is adjusted through his current A/c) ii) Premium A/c Dr. 10,000 B’s Capital A/c Dr. 6,667 To A’s Capital A/c 10,000 To C’s Capital A/c 6,667 (Being goodwill brought of D and B’s share given to A and C sacrifice ratio) e) Entry D (i) and (ii) and the following entries A’s Capital A/c Dr. 25,000 B’s Capital A/c Dr. 16,667 C’s Capital A/c Dr. 8,333 To goodwill A/c 50,000 (Being goodwill written off) f) D’s Current A/c Dr. 10,000 B’s Capital A/c Dr. 6,667 To A’s Capital A/c 10,000 To C’s Capital A/c 6,667 (Being goodwill not brought in cash by D adjusted through D’s current a/c and B’s Capital A/c g) Entry 2 (i) and (ii) and the following entries A’s Capital A/c Dr. 75,000 B’s Capital A/c Dr. 50,000 C’s Capital A/c Dr. 25,000 To goodwill A/c 1,50,000 (Being goodwill written off) h) Equipment A/c Dr. 7,500 D’s Current A/c Dr. 2,500 To Premium for Goodwill A/c 10,000 (Being goodwill brought in D ₹ 7,500 in equipment and balance ₹ 2,500 adjusted through his current A/c)

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

Question 10 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 40 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 A Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 51 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 57 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 63 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 69 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

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication