# Question 41 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-41. - CH-2 - Usha +2 Book 2018 - Solution

Question 41 Chapter 5 of +2-Part-1

41. (Goodwill withdraw by Old Partner) The Balance sheet of A and B who are partners in a firm sharing profits and losses in the ratio 2:1 is as under :

 Liabilities Rs Assets Rs Bills Payable 5,000 Cash 200 Creditors 60,900 Bank 1,000 Capitals Sundry debtors 9,700 A 30,000 Stock 20,000 B 20,000 50,000 Plant 5,000 Machinery 30,000 Building 50,000 1,15,900 1,15,900

They decided to admit C on the following terms :

1. C will receive size 1/3 share in the future profits and will contribute Rs. 15,000 as capital and Rs. 6,000 as goodwill.
2. Stock, plant, and machinery are to be depreciated by 10%.
3. A reserve for doubtful debts at 5% be created on the sundry debtors.
4. The value of buildings is increased by 20%.
5. The old partners have withdrawn the amounts received as goodwill from C.
Prepare Re-valuation Account(profit and loss adjustment account ). Partners capital accounts and the balance sheet of the new firm.

We are providing a solution of Question 41 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 39 to 41 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 41 from the flowing video by using time stamps of the video.

Day - 85 | Solution of Questions Admission of a Partner | Chapter No. 5 | Accounts class 12 | PSEB |

## The solution of Question 41 Chapter 5 of +2 Part-1: –

 Revaluation Account Particular Amount Particular Amount To Stock 2,000 By Buildings 10,000 To Plant 500 To Machinery 3,000 To Provision for doubtful debts 485 To Profit on revaluation transferred to Capital accounts – A 2,677 – B 1,338 4,015 10,000 10,000
 A’s capital accounts Particular Amount Particular Amount To Cash A/c 4,000 By Balance b/d 30,000 By Premium Account 4,000 By Revaluation Account 2,667 To Balance c/d 32,677 36,677 36,677
 B’s capital accounts Particular Amount Particular Amount To Bank Account 2,000 By Balance b/d 20,000 By Premium Account 2,000 By Revaluation Account 1,338 To Balance c/d 23,338 23,338 23,338
 C’s capital accounts Particular Amount Particular Amount By Balance b/d 15,000 To Balance c/d 15,000 23,338 23,338

 Bank accounts Particular Amount Particular Amount To Balance b/d 1,000 By A’s Capital Account 4,000 To C’s Capital Account 15,000 By B’s Capital Account 2,000 To Premium Account 6,000 By Balance c/d 16,000 22,000 22,000
 Balance Sheet Liabilities Amount Assets Amount Bills Payable 5,000 Cash 200 Creditors 60,900 Bank 16,000 Capital Sundry debtors 9,700 A 32,677 Less: provision for Doubtful debts 485 9,215 B 21,338 Stock 18,000 C 15,000 69,015 Plant 4,500 Machinery 27,000 Building 60,000 1,34,915 1,34,915

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

Question 08 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 38 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 44 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 49 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 55 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 61 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 67 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