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

Q-58 - CH-6 - Usha +2 Book 2018 - Solution

Question 58 Chapter 6 of +2-Part-1

58. (Deceased Partner’s Ac) Following is the balance sheet of Tony, Sony and Remy as on March 31, 2019 :

 Liabilities Rs. Assets Rs. Sundry Creditors 16,000 Bills Receivable 16,000 General reserve 16,000 Furniture 22,600 Capital A/c Stock 20,400 Tony 30,000 Sundry Debtors 22,000 Sony 20,000 Cash at Bank 18,000 Romy 20,000 70,000 Cash in Hand 3,000 1,02,000 1,02,000

Sony died on June 30, 2019. Under the terms of the partnership deed, the executors of a deceased partner were entitled to:

1. Amount standing to the credit of the partner’s capital account.
2. Interest an capital at 5% per annum.
3. Share of goodwill on the basis of twice the average of the past three years’ profit and
4. Share of profit from the closing of the last financial year to the date of death on the basis of the last three year’s profit.
Profits for 2013-14, 2014-15 and 2015-16 were Rs. 12,000, Rs. 16,000 and Rs. 14.000 respectively.
Profits were shared in the ratio of capitals. Draw up the Sony’s Account to be rendered to his executors .

## The solution of Question 58 Chapter 6 of +2 Part-1: –

Day - 143 | Solution of Questions 58 & 59 Death of a Partner Chapter 6 Accounts class 12 PSEB

 Sony’s Capital A/c Particulars Amount Particulars Amount To Sony‘s executor’s A/c 33,821 By balance b/d 20,000 By general reserve 4,571 By interest on capital A/c 250 By Tony’s capital A/c 4,800 By Romy’s capital A/c 3,200 By profit & loss Suspense A/c 1,000 33,821 33,821

Working notes :

1.) Interest on capital :

 1.) interest in on capital = 5 x 3 x 20,000 100 12 = Rs 250

1.) Share of goodwill :

 Total goodwill of firm = 12,000+16,000+14,000 X 2 3 = Rs 28,000
 Sony’s share being 2/7 = 2 x 28,000 7 = Rs 8,000

 Tony’s gain = 3 x 8,000 5 = Rs 4,800
 Romy’s gain = 2 x 8,000 5 = Rs 3,200
 3.) Share of Profit: = 2 x 3 x 14,000 7 12 = Rs 1,000

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

Question 07 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Parat – 1

Question 25 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 37 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 43 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 54 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 60 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 66 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