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Question 86 Chapter 2 of Class 12 Part – 1 VK Publication

Question 86 Chapter 2 of Class 12 Part - 1 VK Publication
Question 86 Chapter 2 of Class 12 Part - 1 VK Publication

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Question 86 Chapter 2 of Class 12 Part – 1

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86. A, B and C were partners in a firm sharing profits in the ratio of 2:3:5. A was guaranteed a minimum profit of Rs. 1,00,000. Any deficiency on this account was to borne by C. The net profit of the firm for the year ended 31st March, 2018 was Rs. 4,50,000. Prepare the Profit and Loss Appropriation Account of A, B and C for the year ended 31st March, 2018.

The solution of Question 86 Chapter 2 of Class 12 Part – 1: –

Profit and Loss Appreciation Account

For the year ended 31st March 2015

Particulars 

 

Amount

Particular

Amount
To Profit transferred to Partners’ Capital A/c:  By Profit b/d4,50,000
A90,000   
Add: from C10,0001,00,000  
B 1,35,000  
C2,25,000   
Less: Deficiency of A10,0002,15,000  
  4,50,000 4,50,000

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Also, Check out the solved question of all Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

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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)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

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Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company

Chapter No. 2 – Financial Statement Analysis

Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 4 – Ratio Analysis

Chapter No. 5 – Cash Flow Statement

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Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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