Question 11 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 11 Chapter 6 of Class 12 Part – 1 Usha Publication

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Question 11 Chapter 6 of Class 12 Part – 1 Usha Publication

11.(NPS/Gaining Ratio) X , Y and Z are sharing profit in the ratio of 9 : 7 : 4. Y retires. Amount due to Y on retirement on account of goodwill, was calculated to be Rs. 42,000.
Calculate new and gaining ratio if

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  1. X contributes Rs. 24,000 and Z Rs.18,000 to payout Y.
  2. X contributes Rs. 12,000 and Z Rs. 30,000 to payout Y.

The solution of Question 11 Chapter 6 of Class 12 Part – 1 Usha Publication: –

We are providing a solution of Question 11 Chapter 6 of Class 12 Part – 1 Usha Publication 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 questions number 11 to 17 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 11 from the flowing video by using time stamps of the video.

Day - 124 | Solution of Questions 11 to 17 Retirement of a Partner Chapter 6 Accounts class 12 PSEB

2. Check out the Solution of this question in Article Format:-

Calculation of Gaining ratio

(a) Old profit sharing ratio of X , Y & Z = 9 : 7 : 4
20 20 20

Goodwill payable to Y = Rs 42,000

Amount contributes by X & Z to Y on his retirement is Rs. 24,000 & Rs. 18,000
respectively , i.e. , in the ratio 4 : 3
Thus Y’s share has been bought by X & Y in the ratio 4 : 3 ‘ i.e. , gaining ratio
X’s New share = Old share + Gain

X’s New share = Old share + (Y’s Share X Gaining Share of X) = 9 + 7 X 4
20 20 7
             
  = 9 + 4    
  20 20    
             
  = 13        
  20        
Z’s New share = Old share + (Y’s Share x Z’s Gain) = 4 + 7 X 3
20 20 7
             
  = 4 + 3    
  20 20    
             
  = 7        
  20        

New Profit Sharing ratio = 13 : 7

(b) Old profit sharing ratio of X, Y & Z = 9 : 7 : 4
20 20 20

Amount contributes by X & Z to Y on his retirement is ₹ 12,000 and ₹ 30,000 respectively

Gaining Ratio of X and Z = ₹ 12,000 : ₹ 30,000

Gaining Ratio = 2 : 5

Goodwill payable to Y =  Rs 42,000
Thus Y’s share has been bought by X & Y in the ratio 2: 5 ‘ i.e., gaining ratio

X’s New share = Old share + (Y’s Share X Gaining Share of X) = 9 + 7 X 2
20 20 7
             
  = 9 + 2    
  20 20    
             
  = 11        
  20        
Z’s New share = Old share + (Y’s Share x Gaining Share of Z) = 4 + 7 X 5
20 20 7
             
  = 4 + 5    
  20 20    
             
  = 9        
  20        

New Profit Sharing ratio of X and Z = 11 : 9

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End of Solution


Check Out the Solution of all questions of this chapter:

The solution to all questions of Ch 6 Partnership Accounts V (Retirement and Death of A Partner) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 5 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 17 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 29 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 41 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 54 Chapter 6 of Class 12 Part – 1 Usha Publication

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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)

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication

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

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