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VDO+ Tag:Question 23 Chapter 6 of Class 12 Part – 1 Usha Publication
23. (Comprehensive) A , B and C are partners sharing profits in the ratio of 4 : 3 : 1. B retires selling his share of profit to A and C for Rs. 8,100. Rs. 3,600 being paid by A and Rs. 4,500 being paid by C. The profit for the year after B’s retirement was Rs. 10,500. Distribute the above profit between A and C (in accordance with the above arrangement) showing how you arrive at the same and pass the necessary journal entry (if any) to record the above.
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We are providing a solution of Question 23 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. 23 from the flowing video by using time stamps of the video.
2. Check out the Solution of this question in Article Format:-
Calculation of new profit sharing ratio :Total amount to be paid to B = Rs 8,100
| Amount payable by A | = | 3,600 | x | 4 | Of the total amount |
| 9 |
| Thus A’s gain | = | 3 | x | 4 |
| 8 | 9 | |||
| = | 12 | |||
| 72 |
| Amount payable by C | = | 4,500 | x | 5 | Of the total amount |
| 9 |
| Thus C’s gain | = | 3 | x | 5 |
| 8 | 9 | |||
| = | 15 | |||
| 72 |
| A’s new share | = | 4 | + | 12 |
| 8 | 72 | |||
| = | 48 | |||
| 72 |
| C’s new share | = | 1 | + | 15 |
| 8 | 72 | |||
| = | 24 | |||
| 72 |
| A’s share in profit | = | 10,500 | x | 2 |
| 3 | ||||
| = | Rs 7,000 |
| C’s share in profit | = | 10,500 | x | 1 |
| 3 | ||||
| = | Rs 3,500 |
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | Profit & Loss Appropriation A/c | Dr. | 10,500 | ||
| To A’s capital A/c | 7,000 | ||||
| To C’s capital A/c | 3,500 | ||||
| (Being profit during the year distributed among partners in new profit sharing ratio i.e., 2 : 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)
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 1 Class 12 by Unimax Publication
- Chapter No. 1 – Accounts of Non-Profit Organisations (Deleted from the Syllabus)
- Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
- Chapter No. 3 – Partnership Accounts – II (Goodwill)
- Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
- 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