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

Q-62 - CH-2 - Usha +2 Book 2018 - Solution

Question 62 Chapter 2 of +2-Part-1

62. (Capital ratio) Honest and Sincere are partners in a firm., having total capital of Rs.80,000 of which Rs.50,000 is of Honest and balance is of Sincere on 1st April 2017. As per the partnership deed they are to share profits in capital ratio. Honest brought in additional capital of Rs.15,000 and Rs.20,000 on 1st September 2017 and on 1st Jan.2018, respectively. Sincere introduced Rs.5,000 and Rs.6,000 on 1st December 2017 and 31st March 2018 respectively. Calculate capital ration. The profit for the year ended 31st March 2018 was Rs.68,700.

The solution of Question 62 Chapter 2 of +2 Part-1: –

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

 Calculation of Capital ratio: Honest Date Capital(A) Months(B) Actual Capital Employed(C=A*B) 1-4-17 50,000 5 2,50,000 1-9-17 65,000 4 2,60,000 1-1-18 85,000 3 2,55,000 7,65,000

 Calculation of Capital ratio: Sincere Date Capital(A) Months(B) Actual Capital Employed(C=A*B) 1-4-17 30,000 8 2,40,000 1-12-17 35,000 4 1,40,000 31-3-18 41,000 0 – 3,80,000

Capital ratio : 7,65,000: 3,80,000 or 765:380 or 153:76

 Honest = 68,700 X 153 229 = 45,900/-

 Sincere = 68,700 X 76 229 = 22,800/-

Comment if you have any questions.

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Question 62 Chapter 2 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

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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.

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