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

Q-61 - CH-2 - Usha +2 Book 2018 - Solution

Question 61 Chapter 2 of +2-Part-1

61. (Capital ratio/ interest on capital) X and Y commenced business on 1st April,2016 with a capital of Rs.20,000 and Rs.10,000 respectively. They agreed to share profits and losses in the ratio of their capitals. You are required to distribute the profit for the year which was Rs.42,200:

 Capital Introduced Capital Withdrawn X Y X Y 1st June 5,000 – – – 1st Aug – 3,000 2,000 – 30th Nov 6,000 – – 5,000 31-Mar – 5,000 1,000 –

## The solution of Question 61 Chapter 2 of +2 Part-1: –

Day - 49 | Questions of Partnership - I | Accounts class 12 | PSEB | Sarbjit Singh |

 Calculation of Capital ratio: X Date CapitalBrought CapitalWithdrawn Net Capital (A) Months(B) Product(C=A*B) 1-4-16 20,000 – 20,000 2 40,000 1-6-16 5,000 – 25,000 2 50,000 1-8-16 – 2,000 23,000 4 92,000 30-11-16 6,000 – 29,000 4 1,16,000 31-3-17 1,000 28,000 0 – 2,98,000

 Calculation of Capital ratio: Y Date CapitalBrought CapitalWithdrawn Net Capital (A) Months(B) Product(C=A*B) 1-4-16 10,000 – 10,000 4 40,000 1-8-16 3,000 – 13,000 4 52,000 30-11-16 – 5,000 8,000 4 32,000 31-3-17 5,000 – 13,000 0 – 1,24,000

Capital ratio : 298:124 or 149:62

 X’s Share = 42,200 X 149 211 = 29,800/-

 Y’s Share = 42,200 X 62 211 = 12,400/-

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 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

### 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.

## 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