Question 25 Chapter 6 of Class 12 Part – 1 Usha Publication
25. (Revaluation Entries) Record the following in journal on the retirement of A, the firm decided :
(a) To depreciate furniture on a straight-line basis @ 10% p.a. for two years on the cost of Rs. 70,000.
(b) To decrease the value of a stock by 25 %. The total cost is Rs. 15,000.
(c) To bring on record accrued interest @ 12% p.a. on debentures of X & Co. ; of Rs. 50,000 bought at Rs. 60,000.
(d) To appreciate the plant by 10,000.
(e) To create liability for a salary outstanding Rs 5,000.
The solution of Question 25 Chapter 6 of Class 12 Part – 1 Usha Publication: –
We are providing a solution of Question 25 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 24 to 29 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 25 from the flowing video by using time stamps of the video.
2. Check out the Solution of this question in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | Revaluation A/c | Dr. | 14,000 | ||
| To Furniture A/c ( decrease 10% of 70,000 for 2 years) | 14,000 | ||||
| ( Being furniture revalued ) | |||||
| b) | Revaluation A/c | Dr. | 3,750 | ||
| To Stock A/c ( decrease 15% of 15,000) | 3,750 | ||||
| ( Being Stock revalued ) | |||||
| c) | Accrued interest A/c (12% of 50,000) | Dr. | 6,000 | ||
| To Revaluation A/c) | 6,000 | ||||
| ( Being accrued interest recorded in the books) | |||||
| d) | Plant A/c | Dr. | 10,000 | ||
| To Revaluation A/c) | 10,000 | ||||
| ( Being plant revalued ) | |||||
| e) | Revaluation A/c | Dr. | 5,000 | ||
| To Outstanding salary A/c | 5,000 | ||||
| ( Being Outstanding salary provided ) | |||||
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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