# Question 63 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-63. - CH-2 - Usha +2 Book 2018 - Solution

Question 63 Chapter 5 of +2-Part-1

63. (revaluation A/c/Partner’s Cap. A/c/B/S) A & B are partners sharing profits & losses in the ratio 3:2 . Their balance sheet on 31st march ,2015 stood as under :

 Liabilities Rs. Assets Capitals Machinery 66,000 A 70,000 Furniture 30,000 B 60,000 Investment 40,000 Bank Loan 18,000 Debtors 38,000 Creditors 72,000 Less : provision      4,000 34,000 General reserve 20,000 Cash 24,000 Stock 46,000 2,40,000 2,40,000

On this day they admitted C for 25% share in profits on the following terms :
(i) C brings capital proportionate to his share after all adjustments and Rs. 8,000 for goodwill, out of his share of Rs.14,000.
(ii) Depreciate furniture by 10%.
(iii) Half of investments were to be taken over by A and B in their profit sharing ratio and remaining valued at Rs. 26,000.
(iv) New profit sharing ratio will be 3: 3: 2.
Prepare Revaluation Account, Capital Accounts, and Balance Sheet after C’s admission.

We are providing a solution of Question 63 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 63 to 64 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 63 from the following video by using time stamps of the video.

Day - 96 | Solution of Questions 63 to 64 Admission of a Partner | Chapter 5 Accounts class 12 PSEB

## The solution of Question 63 Chapter 5 of +2 Part-1: –

 Revaluation account Particulars Amount Particulars Amount To Furniture 3,000 By Investment A/c 6,000 To Profit on revaluation A 3/5 1,800 B 2/5 1,200 3,000 6,000 6,000
 Partners’ Capital Account Particulars A B C Particulars A B C To Investment 12,000 8,000 By Balance b/d 70,000 60,000 By Cash A/c 49,000 By Premium  for Goodwill A/c 12,600 1,400 By Revaluation A/c(Profit) 1,800 1,200 By General Reserve A/c 12,000 8,000 To Balance c/d 84,400 62,600 49,000 96,400 70,600 49,000 96,400 70,600 49,000
 Balance Sheet Liabilities Amount Assets Amount Creditors 72,000 Machinery 66,000 Bank loan 18,000 Furniture 27,000 Capital Accounts Investment 26,000 A 84,400 Stock 46,000 B 62,600 C’s Current Accounts 6,000 C 49,000 1,96,000 Debtors                                 38000 Less provision                     4000 34000 Cash 81,000 2,86,000 2,86,000

WORKING NOTES :

Calculation of proportionate capital of C

Let total profits of the firm =  1

 Share of profit given to C = 2 8

 Combined share of A and B = 1 – 2 8 = 6 8

Combined capital of A and B for 6/8 profit = Rs. (84,400+62,600) = Rs. 1,47,000

 Raghu = Rs. 1,47,000 x 6 8 = Rs 1,96,000
 C’s proportionate capital for 2/8 share = Rs. 1,86,000 x 2 8 = Rs 49,000

Goodwill Rs. 6,000 not brought in cash by C will be debited to current A/c

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