# Question 69 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-69. - CH-2 - Usha +2 Book 2018 - Solution

Question 69 Chapter 5 of +2-Part-1

69. (Adjustment of the capital to be made by Cash ) the balance sheet of X & Y who share profits and losses in the ratio 2:1 at 31-3-2019 is as follows :

 Liabilities Rs. Assets Rs. Bills payable 1,000 Cash in hand ( Cash A/c) 3,200 Workmen’s compensation reserve 3,200 Trade debtors X’s capital A/c 6,000 Less: provision 2,500 Y’s capital A/c 4,000 Stock 5,500 Investments 3,000 14,200 14,200

Z was admitted for 1/5th share on the following terms :
(a) That unaccounted accrued income of Rs.400 be accounted for
(b) That the market value of Investments is taken as Rs.4,500.
(c) That a claim on account of Workmen’s Compensation is estimated as Rs. 1,400.
(d) That a Provision for a claim against damages to be kept for Rs. 1.000.
(e) That total capital of the new firm is agreed upon Rs.18,000.
(f) That ‘Z’ should bring the necessary amount for his share of capital and Rs1,500 for his share of goodwill.
(g) That the capital of other partners are also adjusted on the basis of their new profit sharing ratio. Adjustments should be made through cash. Prepare capital A/c & balance sheet.

We are providing a solution of Question 69 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 69 to 70 Chapter no. 5 class 12 of Usha publication. To check the direct solution of question no. 69 from the following video by using time stamps of the video.

Day - 99 | Solution of Questions 69 to 70 Admission of a Partner | Chapter 5 Accounts class 12 PSEB

## The solution of Question 69 Chapter 5 of +2 Part-1: –

 Revaluation account Particulars Amount Particulars Amount To claim for damages 1,000 By Accrued income 400 By investments 1,500 To Profit on revaluation transferred to capital A/c X 600 Y 300 900 1.900 1.900
 Partners’ Capital Account Particulars X Y Z Particulars X Y Z To Cash A/c 600 By Balance b/d 6,000 4,000 By revaluation A/c 600 300 By premium ( S.F. ratio 2:1) A/c 1,000 500 By workmen’s C.F. 1,200 600 By Cash A/c 800 3,600 To Balance c/d 9,600 4,800 3,600 9,600 5,400 3,600 9,600 5,400 3,600
 Balance Sheet Liabilities Amount Assets Amount Provision for Claim for damages 1,000 Cash in hand 8,500 Bills payable 1,000 Trade Debtors 3,000 Workmen’s compensation Claim Payable 1,400 Less provision 500 2,500 Capital Accounts Investments 4,500 X’s capital 9,600 Accrued income 400 Y’s capital 4,800 Stock 5,500 Z’s capital 3,600 18,000 21,400 21,400

WORKING NOTES :

1. Calculation of new profit share ratio

Old ratio of X & Y = 2:1
Let total Share of the firm = 1

 Share of profit of Z = 1 5

 Remaining share (Joint share of X and Y) = 1 – 1 5 = 4 5
 X‘s new share = 4 x 2 5 3 = 8 15
 Y’s new share = 4 x 1 5 3 = 4 15
 Z’s new share = 3 15

New profit sharing ratio = 8 : 4 : 3

 X = Rs. 18,000 x 8 15 = Rs 9,600
 Y = Rs. 18,000 x 4 15 = Rs 3,600
 Z = Rs. 18,000 x 3 15 = Rs 4,800

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

Question 10 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 34 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 40 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 51 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

Question 69 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