Question 22 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 22 Chapter 6 of Class 12 Part – 1 Usha Publication

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Question 22 Chapter 6 of Class 12 Part – 1 Usha Publication

22. (Different Cases of Goodwill) (a) Singh, Khan and Gupta are partners sharing profits and losses in the ratio of 5 : 3 : 2 Singh retires. Goodwill of the entire firm was valued at Rs. 40,000. Pass necessary journal entries regarding goodwill
(b) With the help of above facts pass necessary entries in the following cases :
(i) Goodwill already appears in books at Rs. 40,000.
(ii) Goodwill already appears in books at Rs. 20,000.
(iii) Goodwill already appears in books at Rs. 60,000.

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The solution of Question 22 Chapter 6 of Class 12 Part – 1 Usha Publication: –

We are providing a solution of Question 22 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 18 to 23 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 22 from the flowing video by using time stamps of the video.

Day - 125 | Solution of Questions 18 to 23 Retirement of a Partner Chapter 6 Accounts class 12 PSEB

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

Journal
Date   Particulars
L.F. Debit Credit
a) Khan’s capital A/c Dr.   12,000  
  Gupta’s capital A/c Dr.   8,000  
  To Singh’s capital A/c       20,000
  (Being goodwill adjusted by debiting continuing partners in gaining ratio 3:2. )        
           
b)(i) Singh’s capital A/c Dr.   20,000  
  Khan’s capital A/c Dr.   12,000  
  Gupta’s capital A/c Dr.   8,000  
  To Goodwill A/c       40,000
  (Being goodwill written off )        
           
  Khan’s capital A/c Dr.   12,000  
  Gupta’s capital A/c Dr.   8,000  
  To Singh’s capital A/c       20,000
  (Being goodwill adjusted on retirement )        
           
(ii) Singh’s capital A/c Dr.   10,000  
  Khan’s capital A/c Dr.   6,000  
  Gupta’s capital A/c Dr.   4,000  
  To Goodwill A/c       20,000
  (Being goodwill written off )        
           
  Khan’s capital A/c Dr.   12,000  
  Gupta’s capital A/c Dr.   8,000  
  To Singh’s capital A/c       20,000
  (Being goodwill adjusted on retirement )        
           
(iii) Singh’s capital A/c Dr.   30,000  
  Khan’s capital A/c Dr.   18,000  
  Gupta’s capital A/c Dr.   12,000  
  To Goodwill A/c       60,000
  (Being goodwill written off )        
           
  Khan’s capital A/c Dr.   12,000  
  Gupta’s capital A/c Dr.   8,000  
  To Singh’s capital A/c       20,000
  (Being goodwill adjusted on retirement )        
         

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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 2 Chapter 6 of Class 12 Part – 1 2024

Question 14 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 26 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 38 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 51 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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