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

Posted by By Shubham Sharma 3 Min Read July 12, 2024
Question 47 Chapter 2 of +2- Part-
Q-47 - CH-2 - Usha +2 Book 2018 - Solution

Question 47 Chapter 2 of +2-Part-1

47. (Profit and loss Appropriation a/c, Partners’ Capital a/c) Ajay and Atul are partners in a business showing profits and losses in the ratio of 3:2. Their capitals on 1st Jan, 2018 amounted to Rs.50,000 and Rs.30,000 respectively. During the year ended 31st December,2018 their profit was Rs.42,050 without taking into consideration interest on capital and drawings and a salary to Ajay Rs.12,000 p.a. Interest on capital is to be allowed at 8% p.a. and charged on drawings at an average rate of 5% p.a. The drawings on Ajay and Atul during the year were Rs.5,000 and Rs.2,000 respectively and interest on them worked out to be Rs250 and Rs.100 respectively.
Prepare the Profit and loss appropriation account and the capital accounts of the partners as on 31st Dec., 2018.

The solution of Question 47 Chapter 2 of +2 Part-1: – 

Day - 46 | Questions of Partnership - I | Accounts class 12 | PSEB | Sarbjit Singh |
Watch this video on YouTube.

Profit and Loss App. A/c
Particulars
 Amount Particulars
 Amount
To Interest on capital – Ajay 4,000   By Profit b/d   42,050
-Atul 2,400 6400 By interest on drawings:    
To Ajay’s Salary   12,000 – Ajay 250  
      – Atul 100 350
           
To Net profit transferred to Capital a/cs          
-Ajay 14,400        
-Atul 9,600 24,000      
    42,400     42,400

 

Partners’ Capital A/c  
Particulars
 Ajay Atul Particulars
 Ajay Atul
To Drawings A/c   5,000 2,000 By Balance B/d   50,000 30,000
To Interest on Drawings A/c   250 100 By Interest on Capital A/c   4,000 2,400
        By Salary   12,000 –
        By P&L Adjustment A/c   14,400 9,600
               
To Balance c/d   75,150 39,900        
    80,400 42,000     80,400 42,000

Thanks, Please Like and share with your friends  

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. 2 – Partnership Accounts – I (Introduction) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

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

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

Advertisement-Y

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

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

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

Advertisement-Y

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

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

Advertisement-Y

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

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

Advertisement-Y

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

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

Thanks for completing the chapter. If you understand the question or we have helped you with your homework, please share our website on your social media. We are delighted to help you out.

Thanks again.

End of Post

Advertisement-X

Download a PDF of Chapter No. 2 – Partnership Accounts – I (Introduction):

If you want to download a PDF of this chapter then you can do it. Check out our PDF file on our Store page.

Download Now From our Store

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)

Advertisement-X

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.

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

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

Advertisement

error: Content is protected !!