Question 39 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 2 of +2-Part-1

39. (Treatment of salary & commission) X,Y and Z are in partnership sharing profits equally and during the year 2018-19 earn a profit of Rs.1,15,000. X and Y are entitled to 10% on interest on their capital of Rs.1,00,000 and Rs.1,50,000 respectively while Z, who has no capital in the firm is entitled to a salary of Rs.10,000 p.a. Z is also entitled to commission of 6% on the profits charging Interest, Salary and commission. Prepare profit and loss appropriation for the year ended 31st March 2019.

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

• Chapter No. 1 – Accounting Not for Profit Organisations
• 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)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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