# Question 28 Chapter 4 of Class 12 Part – 1 – 2024

Question 28 Chapter 4 of Class 12 Part – 1 – 2024

28. The Balance Sheet of R, S and T sharing profits and losses in the ratio of 3 : 2 : 1 as on 31st March, 2014 is as follows:

 Liabilities Amount Assets Amount Capital: Goodwill 60,000 R 60,000 Others Assets 1,20,000 S 40,000 T 20,000 Creditors 40,000 1,60,000 1,60,000

From 1st April, 2014, they decide that profit-sharing ratio among them and their capitals Should be equal. The total capital of the firm is to remain ₹ 1,20,000. Any deficiency in capital of a partner is to be brought in cash and any surplus in capital of a partner is to be paid in cash.
Pass Journal entries to record the above.

## The Solution of Question 28 Chapter 4 of Class 12 Part – 1 – 2024:-

We are providing a solution of Question 28 Chapter 4 of Class 12 Part – 1 – 2024 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 question numbers from 24 to 30 Chapter no. 4 class 12 of Usha publication. To check the direct solution of question no. 28 from the following video by using time stamps of the video.

Day - 65 | Solution of Questions Reconstitution of firm Chapter No. 4 | Accounts class 12 | PSEB |

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

 Journal Date Particulars L.F. Debit Credit R’s Capital a/c Dr. 30,000 S’s Capital a/c Dr. 20,000 T’s Capital a/c Dr. 10,000 To Goodwill a/c 60,000 (Being goodwill already appeared in the books written off) Cash a/c Dr. 60,000 To R’s Capital a/c 10,000 To S’s Capital a/c 20,000 To T’s Capital a/c 30,000 (Being cash bought in by partners)

Working note :-

Calculate the New capital of the partners in new firm = Total capital of firm X Share of partners

 R’s Capital = 1 X ₹ 1,20,000 3 = ₹ 40,000
 S’s Capital = 1 X ₹ 1,20,000 3 = ₹ 40,000
 T’s Capital = 1 X ₹ 1,20,000 3 = ₹ 40,000
 Particulars R S T Adjusted Capital b/d 60,000 40,000 20,000 (-) Share goodwill already appeared in the books 30,000 20,000 10,000 30,000 20,000 10,000

Calculate the amount of cash bought in by partners/ paid to partners :-

 Particulars R S T New capital 40,000 40,000 40,000 (-) Adjusted capital 30,000 20,000 10,000 Cash to be bought in 10,000 20,000 30,000

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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)

## 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