Question 33 Chapter 6 of Class 12 Part – 1 Usha Publication
33.( Revaluation A/c/Capital A/c/ Balance sheet ) E , F and G were partners sharing in 3 :1 : 1. Their balance sheet was as follows :
| Liabilities | Rs. | Assets | Rs. |
| Creditors | 90,000 | Bank | 31,000 |
| Bills payable | 30,000 | Debtors 70,000 | |
| Capital E | 1,50,000 | Provision 2,000 | 68,000 |
| F | 1,00,000 | Stock | 80,000 |
| G | 99,000 | Building | 2,70,000 |
| Profit & Loss A/c | 20,000 | ||
| 4,69,000 | 48,000 |
F retired on following terms :
(i) Building is appreciated by 10%.
(ii) Provide for doubtful debts at 10% on debtors.
(iii) Creditors Rs. 10,000 will not be claimed.
(iv) There was an outstanding repair bill Rs. 2,000.
(v) Goodwill of firm valued at Rs. 75,000.
(vi) F is paid Rs. 20,000 and balance transferred to his Loan A/c . Prepare all necessary ledger accounts and balance sheet.
The solution of Question 33 Chapter 6 of Class 12 Part – 1 Usha Publication: –
We are providing a solution of Question 33 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:
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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. 33 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 provision d/d | 5,000 | By Building A/c | 27,000 | ||
| To outstanding claim | 2,000 | By creditors | 10,000 | ||
| To profits transferred | |||||
| E | 18,000 | ||||
| F | 6,000 | ||||
| G | 6,000 | 30,000 | |||
| 37,000 | 37,000 | ||||
| Partners’ Capital Account | |||||||
| Particulars | E | F | G | Particulars | E | F | G |
| To Profit & Loss A/c | 12,000 | 4,000 | 4,000 | By Balance b/d | 1,50,000 | 1,00,000 | 99,000 |
| To F’s capital A/c | 11,250 | 3,750 | By Revaluation A/c | 18,000 | 6,000 | 6,000 | |
| To cash A/c | 20,000 | By E’s capital A/c | 11,250 | ||||
| To F’s loan A/c | 97,000 | By G’s capital A/c | 3,750 | ||||
| To Balance c/d | 1,44,750 | – | 97,250 | ||||
| 1,68,000 | 1,21,000 | 1,05,000 | 1,68,000 | 1,21,000 | 1,05,000 | ||
| Balance Sheet |
|||||
| Liabilities |
Amount | Assets | Amount | ||
| Creditors | 80,000 | Bank | 11,000 | ||
| Bills payable | 30,000 | Debtors | 70,000 | ||
| Outstanding repair charges | 2,000 | Less provision | 7,000 | 63,000 | |
| E’s Capital A/c | 1,44,750 | Stock | 80,000 | ||
| G’s Capital A/c | 97,250 | Building | 2,97,000 | ||
| F’s loan | 97,000 | ||||
| 4,51,000 | 4,51,000 | ||||
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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)
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