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VDO+ Tag:Question 25 Chapter 2 of Class 12 Part – 1 Usha Publication
25. (Interest is a charge) P and Q are partners. They share profits in 2:1 ratio. As per the partnership, they are to get interested on capital @10% p.a. Their capitals were P- Rs.50,000; Q- Rs.30,000. Their profit before interest was Rs.10,100. Interest is allowed as a charge. What difference will it make if profits are Rs.7,100 only?
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Video Tag:The solution of Question 25 Chapter 2 of Class 12 Part – 1 Usha Publication: –
We are providing a solution of Question 25 Chapter 2 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 numbers 18 to 28 Chapter No. 2 class 12 of Usha publication. To check the direct solution of question no. 25 from the following video by using time stamps of the video.
2. Check out the Solution of this question in Article Format: –
| Calculation of net profit | |||
| Particulars |
B | ||
| a) If profits are Rs.10,100: | |||
| Profit before interest | 10,100 | ||
| Less: Interest on Capital @ 10% – A | (5,000) | ||
| Interest on Capital @ 10% – B | (3,000) | ||
| Net Loss | 2,100 | ||
| Calculation of distribution of profit | ||||
| Particulars |
A | B | ||
| Net Profit of Rs.2,100 being distributed in 2:1 ratio | 1,400 | 700 | ||
| Calculation of net profit | |||
| Particulars |
B | ||
| a) If profits are Rs7,100: | |||
| Profit before interest | 7,100 | ||
| Less: Interest on Capital @ 10% – A | (5,000) | ||
| Interest on Capital @ 10% – B | (3,000) | ||
| Net Loss | 900 | ||
| Calculation of distribution of profit | ||||
| Particulars |
A | B | ||
| Net loss of Rs.900 being distributed in 2:1 ratio | (600) | (300) | ||
Note: When interest is allowed as charge, it is irrespective of the quantum of profits and is shown in Profit and Loss a/c.
End of Solution
Check Out the Solution of all questions of this chapter:
The solution to all questions of Chapter No. 2 – Partnership Accounts – I (Basic Concepts) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
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Download a PDF of Chapter No. 2 – Partnership Accounts – I (Introduction):
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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