Question 33 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 33 Chapter 6 of Class 12 Part – 1 Usha Publication

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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 :

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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:

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. 33 from the flowing video by using time stamps of the video.

Day - 128 | Solution of Questions 32 to 34 Retirement of a Partner Chapter 6 Accounts class 12 PSEB

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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End of Solution


Check Out the Solution of all questions of this chapter:

The solution to all questions of Ch 6 Partnership Accounts V (Retirement and Death of A Partner) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 1 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 13 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 25 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 37 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 50 Chapter 6 of Class 12 Part – 1 Usha Publication

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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

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

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