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VDO+ Tag:Question 5 Chapter 2 of Class 12 Part – 1 Usha Publication
5. (No Partnership Deed) A and B are partners in a 3:2 ratio. However, for other matters, they don’t have any agreement. The following conflicts arose between them.
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Video Tag:(i) B advanced a loan of Rs.50,000 to the firm and claimed interest @10% p.a.
(ii) B through his contacts, brought the business of Rs. 5,00,000 to the firm and claimed a commission of 5% on Rs.5,00,000.
(iii) A has let out his building to the firm and asked for rent of Rs.2,000 p.m. which is reasonable.
(iv) Profit of the firm was Rs.30,000. A and B claimed this profit in a 3:2 ratio.
Comment on the above issues.
The solution to Question 5 Chapter 2 of Class 12 Part – 1 Usha Publication: –
We are providing a solution of Question 5 Chapter 2 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 question numbers from 1 to 12 Chapter no. 2 class 12 of Usha publication. To check the direct solution of question no. 5 from the following video by using time stamps of the video.
2. Check out the Solution of this question in Article Format: –
As per provisions of the Partnership Act, of 1932:
(i) B can be granted interest on his loan to the firm @6% p.a.
(ii) B cannot claim any commission for working on behalf of the firm.
(ii) A is entitled to claim rent for the premises being used for the firm, the amount is reasonable.
(iv)The profits should be distributed equally among the partners.
End of Solution
Check Out the Solution of all questions of this chapter:
The solution to all questions of Chapter No. 2 – Partnership Accounts – I (Basic Concepts) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
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Download a PDF of Chapter No. 2 – Partnership Accounts – I (Introduction):
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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