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Question 40 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Posted by By Shubham Sharma 4 Min Read July 12, 2024
Question 40 Chapter 6 of +2- Part
Q-40 - CH-6 - Usha +2 Book 2018 - Solution

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Question 40 Chapter 6 of +2-Part-1

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40. (Capital to be adjusted in New Profit Sharing Ratio) The Balance Sheet of X ,Y & Z who shared profits in the ratio of 4:3:1 as on 31st March, 2016 was as follows:

Liabilities  Rs.  Assets  Rs. 
Sundry Creditors  7,700 Cash AT BANK 6,300
General reserve  1,800 Debtors                 6,000  
Capital X 19,000 Less provision      300 5,700
Y  14,000 Stock  7,000
Z  12,000 Plant & machinery 10,500
    Building 25,000
  54,500   54,500

B retired on the following terms:
(i)Building appreciated by Rs.7,000.
(ii) Provision for bad debts is to made at 5% on debtors.
(iii) Goodwill of the firm valued at Rs. 9,000 and adjustment in this respect be made without raising goodwill account..
(iv) Rs. 5,000 to be paid to B immediately and balance due to him be treated as loan carrying interest @ 6% per annum.
Pass journal entries to record above mentioned transactions and show the Balance Sheet of the firm as it would appear immediately after B’s retirement .

The solution of Question 40 Chapter 6 of +2 Part-1: –

Day - 132 | Solution of Questions 40 Retirement of a Partner Chapter 6 Accounts class 12 PSEB
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Revaluation Account
Particulars
 Amount Particulars Amount
To Sock A/c   350 By Building A/c   1,250
To Provision for L/c   320      
To profits transferred   2,000      
X 258        
Y 193        
Z 129 580      
    1,250     1,250
Partners’ Capital Account 
Particulars X Y Z Particulars X Y Z
To Y’s capital A/c 2,528   2,139 By Balance b/d 19,000 14,000 12,000
To Bank A/c   500   By Revaluation A/c 258 193 129
To Bank A/c 30     By General Reserve A/c 800 600 400
To Y’s loan A/c   14,460   By Bank A/c     110 
        By X’s Capital A/c   2,528  
To Balance c/d 17,500 – 10,500 By Z’s Capital A/c   2,139  
  20,028 19,460 12,529   20,417 19,460 12,529
Balance Sheet
Liabilities
Amount Assets Amount
Y’s Laon   14,460 Cash in Bank   1,380
Creditor   7,700 Stock   6,650
Provision for L/c   320 Debtors 6,000  
Capital X   17,500 Less Provision 300 5,700
Z   10,500 Plant & Machinery   10,500
      Building   26,250
           
    50,480     50,480
Bank Account
Particulars Amount Particulars Amount
To balance b/d   6,300 By Y’s Capital   5,000
To Z’s Capital   110 By X’s Capital   30
      By balance c/d   1,380
           
    6,410     6,410

Comment if you have any questions.

End of Solution

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Question 01 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 02 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 03 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 04 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 05 Chapter 6 of +2- Part- 1 of USHA Publication Part – 1

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Question 06 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 10 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 12 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 18 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 19 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 24 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 28 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 6 of +2 Part- 1 – USHA Publication 12 Class

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Question 30 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 6 of +2 Part- 1 – USHA Publication

Question 34 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 35 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 36 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 37 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 38 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 6 of +2 Part- 1 – USHA Publication

Question 40 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 42 Chapter 6 of +2 Part- 1 – USHA Publication

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Question 43 Chapter 6 of +2 Part- 1 – USHA Publication

Question 44 Chapter 6 of +2 Part-1 – USHA Publication

Question 47 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 49 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 50 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 51 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 52 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 53 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 54 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 55 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 56 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 57 Chapter 6 of +2 Part- 1 – USHA Publication

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Question 58 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 59 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 61 Chapter 6 of +2 Part- 1 – USHA Publication

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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)

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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)

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Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication

Check out Part 2 of both books.

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1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 2 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication

Advanced Accountancy II Part 2 Class 12 – Solution for free

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