# Question 57 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-57 - CH-5 - Usha +2 Book 2018 - Solution

Question 57 Chapter 5 of +2-Part-1

57. (Capital to be adjusted on basis of NPS) Sun and Moon are partners in a firm sharing profits in 2:1 ratio with capital of Rs. 1,00,000 and Rs. 75,000 respectively. Planet was admitted for 1/4 share in profits. He brought capital Rs. 50,000 and goodwill Rs. 15,000. Half the amount of goodwill was withdrawn by old partners. The capital of the partners was to be arranged in profit sharing ratio on the basis of Planet’s capital and excess or deficit is to be adjusted in cash. Calculate the amount to paid or to be received from partners based on above arrangement.

We are providing a solution of Question 57 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 55 to 57 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 57 from the following video by using time stamps of the video.

Day - 92 | Solution of Questions 55 - 57 Admission of a Partner | Chapter 5 | Accounts class 12 PSEB

## The solution of Question 57 Chapter 5 of +2 Part-1: –

Calculation of new profit share ratio

Assuming total profits of the firm = 1

 Share of profit acquired by Planet = 1 4
 Remaining share (Joint share of Sun & Moon) = 1 – 1 4 = 3 4

Old Ratio = 2:1

 Sun‘s new share = 3 x 2 4 3 = 6 12
 Moon‘s new share = 3 x 1 4 3 = 3 12
 C’s share = 1 or 3 4 12

New profit sharing ratio = 2 : 1 : 1

Calculation of Calculation of New Capital of all partners:

Total Capital of Firm = Capital of new firm X Reverse share of new partner

 Planet’s capital for 1 th capital is Rs. 50,000 4

Total Capital of the firm = 50,000X 4 = Rs. 2,00,000

Calculation of New Capital of all partners
= Total capital of new firm X New share of partners

 Sun’s Capital = = 2,00,000 x 2 4 = Rs. 1,00,000
 Moon’s Capital = = 2,00,000 x 1 4 = 50000

Calculation of Adjusted capital of old partners

 Sun Moon Capital as per the statement = 1,00,000 75,000 Add: share of Planet’s goodwill 10,000 5,000 1,10,000 80,000 Fewer withdrawals of Goodwill = 5,000 2,500 Adjusted capital of the firm = 1,05,000 77,500 Capital required the new firm = 1,00,000 50,000 Amount to be withdrawn = 5,000 27,500

Calculate deficiency or surplus = New capital – Adjusted capital

Sun‘s deficiency or surplus = ₹ 1,00,000 – ₹ 1,05,000 = ₹ 5,000 Surplus
B‘s deficiency or surplus = ₹ 50,000 – ₹ 77,500 = ₹ 27,500 Surplus

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

Question 09 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 33 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 39 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 45 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 50 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 56 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 62 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 68 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