Chapter No. 2 – Partnership Accounts – I (Introduction) – USHA Publication Class +2 – Solution

Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution

What is Partnership: –

The Partnership is one of the type of business in which two or more persons/business make a formal agreement between them of sharing business ownership, profits/Losses, responsibilities and duties of the business. They also help each other in all operational activities of the business i.e. Decision making, Forecasting and increasing the number of partners etc. 

In the Partnerships, the share of ownership will be distributed to the new partner as per the current market valuation of the business. The Market valuation includes a number of factors i.e. the market share of the product, customer loyalty and many more. 

For Examples: –

  • Ides and Vodafone 
  • Reliance Jio and Facebook. 
  • Red bull and Go Pro
  • Maruti Suzuki

Check out the full article: –

What is Partnership – Meaning and its Types

Chapter No. 2 – Partnership Accounts – I (Introduction) – USHA Publication Class +2 – Solution

Question wise solution of the all Questions of Chapter No. 2 – Partnership Accounts – I (Introduction) – USHA Publication Class +2 – Solutions are shown below: –

Q 1 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 01 Chapter 2 of +2-Part-1 No Partnership Deed Exists 1. (Absence of Partnership Deed) X and Y are partners ...
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Q 2 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 02 Chapter 2 of +2-Part-1 No Partnership Deed Exists 2. (Absence of Partnership Deed) X and Y are partners ...
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Q 3 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 03 Chapter 2 of +2-Part-1 No Partnership Deed Exists 3. (Profit & Loss App. A/c / Partners’ Capital a/c’s) ...
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Q 4 CH 2 Usha 2 Book 2018 Solutiony min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 04 Chapter 2 of +2-Part-1 4. (Absence of Partnership deed) A presents the following profit and loss appropriation account ...
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Q 5 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 05 Chapter 2 of +2-Part-1 5. (No Partnership Deed) A and B are partners in 3:2 ratio. However, for ...
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Q 6 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 06 Chapter 2 of +2-Part-1 6. (No Partnership Deed) Mahesh and Ramesh are partners with capitals of Rs. 50,000 ...
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Q 7 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 07 Chapter 2 of +2-Part-1 7. (No Partnership Deed) Komal and Ahmed are partners in 3:2 ratio. They contributed ...
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Q 8 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 08 Chapter 2 of +2-Part-1 8. (Interest on Loan) Ranjit and Surjit share profits in 2:1 ratio. Ranjit gave ...
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Q 9 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 09 Chapter 2 of +2-Part-1 9 (Interest on Loan) Dhoni and Harbhajan advanced Rs.1,50,000 to the firm in their ...
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Q 10 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 10 Chapter 2 of +2-Part-1 10. (Interest on Loan) Rajan and Sunil are partners in a chemist shop in ...
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Q 11 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 11 Chapter 2 of +2-Part-1 11. (Interest on Loan) As per the information provided by Dara and Gala, partners ...
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Q 12 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 12 Chapter 2 of +2-Part-1 12. (Interest on Loan) Partner Rehman gave a personal loan to his partner friend ...
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Q 13 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 13 Chapter 2 of +2-Part-1 13. (Capital a/c’s) Show how the following items will be recorded in the capital ...
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Q 14 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 14 Chapter 2 of +2-Part-1 14. (Capital a/c’s) Prepare Capital accounts of partner X and Y:   X Y ...
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Q 15 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 15 Chapter 2 of +2-Part-1 15. (Journal Entries) Pass Journal Entries in the following cases:(a) Profit Rs.25,000 distributed between ...
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Q 16 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 16 Chapter 2 of +2-Part-1 16. (Capital a/c’s/Interest on Drawings) Prepare Capital accounts of partners Muthu and Krishnan from ...
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Q 17 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 17 Chapter 2 of +2-Part-1 17. (Fixed Capital a/c’s) Prepare Current accounts of partner X and Y for the ...
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Q 18 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 18 Chapter 2 of +2-Part-1 18. (Interest on Capital/Journal Entry) Mand N have a capital of Rs.1,00,000 and Rs.50,000 ...
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Q 19 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 19 Chapter 2 of +2-Part-1 19. (Interest on Capital/Journal Entry) C and D have capital of Rs.70,000 and Rs.90,000 ...
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Q 20 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 20 Chapter 2 of +2-Part-1 20. (Calculation of interest on Capital) A and B started business on 1-4-2018 with ...
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Q 21 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 21 Chapter 2 of +2-Part-1 21. (Interest on Capital/Journal Entry) X and Y are in partnership with the ratio ...
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Q 22 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 22 Chapter 2 of +2-Part-1 22. (Interest on Capital) The following is the information available from the books of ...
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Q 23 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 23 Chapter 2 of +2-Part-1 23. (Interest on Capital/Opening Capital Missing) Capital of A and B at the end ...
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Q 24 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 24 Chapter 2 of +2-Part-1 24. (Interest as a charge) A and B have a capital of Rs.30,000 and ...
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Q 25 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 25 Chapter 2 of +2-Part-1 25. (Interest is a charge) P and Q are partners. They share profits in ...
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Q 26 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 26 Chapter 2 of +2-Part-1 26. (Interest on Capital/Drawings & Profits given) From the following balance sheet of Rich ...
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Q 27 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 27 Chapter 2 of +2-Part-1 27. Money and Rupee are partners sharing profits in the ratio of 2:1. Their ...
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Q 28 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 28 Chapter 2 of +2-Part-1 28. (Interest on Drawings/Evenly throughout the year) A and B are partners in a ...
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Q 29 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 29 Chapter 2 of +2-Part-1 29. (Interest on Drawings/Drawings at beginning, middle and end of each month) A and ...
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Q 30 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 30 Chapter 2 of +2-Part-1 30. (Interest on Drawings/ Product Method) During the year ended 31-3-2017, a partner made ...
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Q 31 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 31 Chapter 2 of +2-Part-1 31. (One partner’s interest is calculated for one year and other partners’ for half ...
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Q 32 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 32 Chapter 2 of +2-Part-1 32. (Interest on Drawings/ Different situations) Mr. X and Y started business on 1st ...
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Q 33 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 33 Chapter 2 of +2-Part-1 33. (Profit & Loss App. A/c / Current a/c/ Interest on Drawings) A B ...
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Q 34 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 34 Chapter 2 of +2-Part-1 34. (Interest on Loan) Partner Raman has advanced loan Rs.70,000 to the firm on ...
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Q 35 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 35 Chapter 2 of +2-Part-1 35. (Interest on Laon/Different cases) Sad and Happy are partners in 2:1 ratio. On ...
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Q 36 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 36 Chapter 2 of +2-Part-1 36. (Profit & Loss App. A/c / Interest on Loan) A, B and C ...
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Q 37 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 37 Chapter 2 of +2-Part-1 37. (Treatment of salary and Commission) Pass Journal Entries for the following transactions and ...
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Q 38 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 38 Chapter 2 of +2-Part-1 38. (Treatment of salary & commission) Fat and Thin are partners in a firm ...
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Q 39 CH 2 Usha 2 Book 2018 Solution 1 min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 39 Chapter 2 of +2-Part-1 39. (Treatment of salary & commission) X,Y and Z are in partnership sharing profits ...
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Q 40 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 40 Chapter 2 of +2-Part-1 40. (Journal Entries for Commission) Pass Journal Entries for the following(a) Commission @5% payable ...
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Q 41 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 41 Chapter 2 of +2-Part-1 41. (Fixed and Fluctuating Capital a/c’s) On 1st January,2017, A and B entered in ...
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Q 42 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 42 Chapter 2 of +2-Part-1 42. (Fluctuating Capital a/c’s/ Profit & Loss A/c) A and B are in partnership ...
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Q 43 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 43 Chapter 2 of +2-Part-1 43. (Profit and loss adjustment a/c) On April 1, 2018 John and Robert commenced ...
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Q 44 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 44 Chapter 2 of +2-Part-1 44. (Profit and loss appropriation a/c) Ramesh and Suresh started partnership on 1st April ...
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Q 45 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 45 Chapter 2 of +2-Part-1 45. (Profit and loss appropriation a/c) A and B are partners sharing profits in ...
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Q 46 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 46 Chapter 2 of +2-Part-1 46. (Profit and loss Appropriation a/c, Fixed and Fluctuating Capital a/c’s) On 1st April, ...
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Q 47 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 47 Chapter 2 of +2-Part-1 47. (Profit and loss Appropriation a/c, Partners’ Capital a/c) Ajay and Atul are partners ...
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Q 48 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 48 Chapter 2 of +2-Part-1 48. (Profit and loss appropriation a/c) A, B and C are partners in a ...
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Q 49 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 49 Chapter 2 of +2-Part-1 49. (P/L appropriation a/c, Partners capital & current accounts)X and Y were partners in ...
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Q 50 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 50 Chapter 2 of +2-Part-1 50. (Profit and loss appropriation a/c, Partners Current a/c) A, B and C are ...
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Q 51 CH 2 Usha 2 Book 2018 Solution Copy min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 51 Chapter 2 of +2-Part-1 51. (P/L appropriation a/c, Partners capital & current accounts) A and B are partners ...
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Q 52 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 52 Chapter 2 of +2-Part-1 52. (Profit and loss appropriation a/c, Partners Capital and Current a/c) On 1st January, ...
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Q 53 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 53 Chapter 2 of +2-Part-1 53. (Profit and loss appropriation a/c) Ted, Phil and Gordon are in partnership sharing ...
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Q 54 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 54 Chapter 2 of +2-Part-1 54. (Profit and loss appropriation a/c, Partners Capital and Current a/c) R, S and ...
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Q 55 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 55 Chapter 2 of +2-Part-1 55. (P/L appropriation a/c, Partners fixed accounts) Black and White have capital of Rs ...
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Q 56 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 56 Chapter 2 of +2-Part-1 56. (Profit and loss a/c, Partners Capital and Current a/c) Thread, Needle and Button ...
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Q 57 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 57 Chapter 2 of +2-Part-1 57. (Profit and loss appropriation a/c)X, Y and Z are in partnership with capital ...
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Q 58 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 58 Chapter 2 of +2-Part-1 58. (Profit and loss appropriation a/c, capital account & current accounts) From the following ...
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Q 59 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 59 Chapter 2 of +2-Part-1 59. (Distribution of profit in the capital ratio) A starts business on 1 April ...
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Q 60 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 60 Chapter 2 of +2-Part-1 60. (Capital ratio/ interest on capital) X and Y commenced business on 1st Jan.2014 ...
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Q 61 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 61 Chapter 2 of +2-Part-1 61. (Capital ratio/ interest on capital) X and Y commenced business on 1st April,2016 ...
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Q 62 CH 2 Usha 2 Book 2018 Solution min 360x203 - Chapter No. 2 - Partnership Accounts - I (Introduction) - USHA Publication Class +2 - Solution
Question 62 Chapter 2 of +2-Part-1 62. (Capital ratio) Honest and Sincere are partners in a firm., having total capital ...
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