Question 30 Chapter 6 – Class 12 Part 1 Unimax

Question 30 Chapter 6 – Class 12 Part 1 Unimax

30. P, Q and R were in partnership sharing profits and losses in the ratio of 3:2:1. The draft balance sheet as on 31st March 2021 was as follows:

P retired on 31st March 2021and Q and R continued in partnership sharing profits and losses in the ratio of 2:1. P’s loan was repaid on 1st April 2021 and it was agreed that the remaining balance due to him, other than that of the current a/c, should remain as loan to the partnership.

For the purpose of P’s retirement, it was agreed that:

1. Building be revalued at ₹ 24000 and Plant and Equipment at ₹ 15800.
2. The provision for bad debts was to be increased by ₹400.
3. A provision of ₹ 500 included in creditors was no longer to be repaid.
4. ₹1200 was to be written off from the stock in respect of damaged items
   included there in.
5. A provision of ₹4240 made in respect of outstanding legal charges.
6. The goodwill of the firm to be valued at ₹14400.

• You are required to prepare revaluation account, capital a d current accounts of partners, balance sheet of Q, R as on 1st April 2021.

The solution of Question 30 Chapter 6 – Class 12 Part 1 Unimax: –

Revaluation A/c

Partners current accounts

Balance sheet (After retirement)

End of Solution

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The solution to all questions of Chapter No. 6 – Partnership Accounts-IV  (Retirement and Death of the Partner) Class 12 Unimax is shown as follows, click on the image of the question to get the solution.

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

• Chapter No. 1 – Accounts of Non-Profit Organisations
• 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)

2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax

UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.

• Chapter No. 1 – Company Accounts (Share Capital)
• Chapter No. 2 – Issue of Debentures
• Chapter No. 3 – Redemption of Debentures
• Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
• Chapter No. 5 -Financial Statement Analysis
• Chapter No. 6 – Tools/Methods of Financial Analysis
• Chapter No. 7 – Ratio Analysis
• Chapter No. 8 – Cash Flow Statement

Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.