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

Q-53 - CH-6 - Usha +2 Book 2018 - Solution

Question 53 Chapter 6 of +2-Part-1

53. (Amount Payable to deceased Partner’s Legal Representative) A , B and Care partners in a firm their balance sheet as at 31 December, 2017 is given below:

 Liabilities Rs. Assets Rs. Creditors 10,000 Plant & Machinery 20,000 General reserve 10,000 Furniture & Fixtures 2,500 A’s capital 20,000 Stock 10,500 B’s capital 15,000 Debtors 15,000 C’s capital 5,000 Investments 12,000 60,000 60,000

B died on 30 June, 2018. The Partnership Deed provides that the representatives of the deceased partner shall be entitled to :
(i) Deceased partner’s capital as appearing in last Balance sheet.
(ii) Interest on capital @ 6% pa up to the date of death.
(ii) His share of profit up to the date of death on the average of last three year’s profit.
(iv) His share of any undistributed profits and losses as per last balance sheet.
(v) Interest on his drawings up to the date of death will be charged 10% pa Profits for the last three years were Rs. 65,000, Rs. 64.000 and Rs. 69,000.
B’s drawings up to the date of death amounting to Rs. 10,000, Ascertain the amount payable to the legal representative of B (goodwill excluded)

## The solution of Question 53 Chapter 6 of +2 Part-1: –

Day - 140 | Solution of Questions 52 to 54 Death of a Partner Chapter 6 Accounts class 12 PSEB

 Calculation of the amount payable to the legal representative of B Particulars Amount Capital as per the last balance sheet 15,000 Add: – Interest on capital for 6 months @ 6 % p.a. 450 – Share of profit for 6 months Average profit (1/3) X (65000+64000+69000)= Rs. 66,000 Profit for 6 months = (1/2) X Rs. 66,000 = Rs.33,000 B’s share = (1/3) X Rs. 33,000 11,000 – Share of General Reserve = (1/3) X Rs. 10,000 3,333 29,783 Less: drawings 10,000 – Interest on drawings[(10/100)X10,000X(3/2)] 250 10,250 Total Amount payable 19,533

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End of Solution

## Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 6 – Partnership Accounts – V (Retirement and Death 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 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 10 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 22 Chapter 6 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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

Question 49 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 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)

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