Question 54 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 54 Chapter 6 of Class 12 Part – 1 Usha Publication

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Question 54 Chapter 6 of Class 12 Part – 1 Usha Publication

54 (Journalisation of Joint Life Policy) A, B and C are equal partners. They took out a joint life policy for Rs. 18,000 at an annual premium of Rs. 700. B died on 1-2-2016. Joint life policy account appears at Rs. 1,800 in the firm’s books on the day of B’s death, Policy amount was duly received.
Give necessary journal entries.

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The solution of Question 54 Chapter 6 of +2 Part-1: –

We are providing a solution of Question 54 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 question numbers from 52 to 54 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 54 from the flowing video by using time stamps of the video.

Day - 140 | Solution of Questions 52 to 54 Death of a Partner Chapter 6 Accounts class 12 PSEB

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

Journal
Date   Particulars
L.F. Debit Credit
1-2-16 Insurance Co. A/c Dr.   18,000  
  To Joint Life Policy A/c       18,000
  (Being policy due from insurance Co.)        
           
1-2-16 Joint Life Policy A/c Dr.   16,200  
  To A’s capital A/c       5,400
  To B’s capital A/c       5,400
  To C’s capital A/c       5,400
  (Being profit on J.L.P. distributed )        
         

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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 2 Chapter 6 of Class 12 Part – 1 2024

Question 14 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 26 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 38 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 51 Chapter 6 of Class 12 Part – 1 Usha Publication

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Download a PDF of Ch 6 Partnership Accounts V (Retirement and Death of A Partner):

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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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