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VDO+ Tag:Question 32 Chapter 6 of Class 12 Part – 1 Usha Publication
32.( Revaluation A/c/Capital A/c/ Balance sheet ) A, B and Care in partnership sharing profit in the ratio of 3:2:1. Their Balance Sheets on 31st December, 2018 was under:
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Video Tag:| Liabilities | Rs. | Assets | Rs. |
| A’s Capital | 16,000 | Bank | 1,600 |
| B’S Capital | 12,000 | Stock | 10,400 |
| C’s capital | 10,400 | Debtors | 12,000 |
| Creditors | 8,000 | Machinery | 9,600 |
| Bills payable | 1,600 | Land & Building | 14,400 |
| 48,000 | 48,000 |
A retired and the assets of the firm were revalued as under :
Goodwill Rs. 3,200, Stock Rs 9,600, Debtors Rs. 11,200 ;Machinery Rs. 8,800, Land & Building Rs. 17,600.
Creditors to the extent of 2(1/2) % are not likely to claim their dues. Assuming that the above adjustments are duly carried through you are required to prepare Revaluation Account, Partners Capital Accounts and the Balance Sheet of B and C after A’s retirement.
The solution of Question 32 Chapter 6 of Class 12 Part – 1 Usha Publication: –
We are providing a solution of Question 32 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 32 to 34 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 32 from the flowing video by using time stamps of the video.
2. Check out the Solution of this question in Article Format:-
| Revaluation account |
|||||
| Particulars |
Amount | Particulars | Amount | ||
| To stock | 800 | By land & Building A/c | 3,200 | ||
| To debtors | 800 | By creditors | 200 | ||
| To machinery | 800 | ||||
| To profits transferred | |||||
| A’s capital A/c | 500 | ||||
| B’s capital A/c | 333 | ||||
| C’s capital A/c | 167 | 1,000 | |||
| 3,400 | 3,400 | ||||
| Partners’ Capital Account | |||||||
| Particulars | A | B | C | Particulars | A | B | C |
| To A’s capital A/c | 1,067 | 533 | By Balance b/d | 16,000 | 12,000 | 10,400 | |
| To A’s loan A/c | 18,100 | By Revaluation A/c | 500 | 333 | 167 | ||
| By B’s capital A/c | 1,067 | ||||||
| By C’s capital A/c | 533 | ||||||
| To Balance c/d | – | 11,266 | 10,034 | ||||
| 18,100 | 12,333 | 10,567 | 18,100 | 12,333 | 10,567 | ||
| Balance Sheet |
|||||
| Liabilities |
Amount | Assets | Amount | ||
| Capital | Bank | 1,600 | |||
| B | 11,266 | Stock | 9,600 | ||
| C | 10,034 | 21,300 | Debtors | 11,200 | |
| Bills payable | 1,600 | Machinery | 8,800 | ||
| Creditors | 7,800 | Land & Building | 17,600 | ||
| A’s loan A/c | 18,100 | ||||
| 48,800 | 48,800 | ||||
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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