Ultimate Book of Accountancy Class 12 Part A Solutions – Reconstitution of Partnership
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Practical Problems
Solution 1:
Old Share = 1 : 1 : 1
New Share = 5 : 3 : 2
Calculation of Sacrifice/Gain Share = Old share – new share
X = 1/3 – 5/10 = 5/30 Gain
Y = 1/3 – 3/10 = 1/30 Sacrifice
Z = 1/3 – 2/10 = 4/30 Sacrifice
Solution 2:
Old Share = 3 : 2
New Share = 5 : 3
Calculation of Sacrifice/Gain Share = Old share – new share
A = 3/5 – 5/8 = 1/40 Gain
B = 2/5 – 3/8 = 1/40 Sacrifice
Solution 3:
Old Share = 4 : 3 : 2
New Share = 1 : 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
A =4/9 – 1/3 = 1/9 sacrifice
B = 3/9 – 1/3 = No sacrifice no gain
C = 2/9 -1/3 = 1/9 Gain
Solution 4:
Old Share = 3 : 2
New Share = 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
A = 3/5 – A = 1/10 sacrifice
B = 2/5 – A = 1/10 Gain
B’s Capital A/c Dr. 3,000
To A’s Capital A/c 3,000
Share of B = 30,000 x 1/10 = 3,000 and A’s Share = 30,000 x 1/10 = 3,000
Solution 5:
Old Share = 5 : 3 : 2
New Share = 1 : 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
Gupta = 5/10 – 1/3 = 5/30 sacrifice
Verma = 3/10 – 1/3 = 1/30 Gain
Sharma = 2/10 – 1/3 = 4/30 Gain
Verma’s Capital A/c 4,000
Sharma’s Capital A/c 16,000
To Gupta’s Capital A/c 20,000
Solution 6:
Old Share = 4/9 : 1/3 : 2/9 OR 4 : 3 : 2
New Share = 1 : 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
A = 4/9 – 1/3 = 1/9 sacrifice
B = 3/9 -1/3 = No sacrifice no gain
C = 2/9 -1/3 = 1/9 Gain
C’s Capital A/c Dr. 1,200
To A’s Capital A/c 1,200
Solution 7:
Old Share = 3 : 2 : 1
New Share = 5 : 3 : 2
Calculation of Sacrifice/Gain Share = Old share – new share
Akshita = 3/6 – 5/10 = No sacrifice no gain
Bakshi = 2/6 – 3/10 = 1/30 sacrifice
Chandra = 1/6 – 2/10 = 1/30 Gain
Chanda’s Capital A/c Dr. 2,000
To Bakshi 2,000
Note: 60,000 x 1/30 = 2,000
Solution 8:
Old Share = 1 : 1
New Share = 5 : 3
Calculation of Sacrifice/Gain Share = Old share – new share
Lal = ½ – 5/8 = 1/8 gain
Bal = ½ – 3/8 = 1/8 sacrifice
Lal’s Capital A/c Dr. 500
To Bal’s Capital A/c 500
Solution 9:
Old Share = 3 : 3 : 2
New Share = 1 : 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
GK = 3/8 – 1/3 = 1/24 sacrifice
SK = 3/8 – 1/3 = 1/24 sacrifice
MK = 2/8 – 1/3 = 2/24 Gain
Goodwill = 3,000 + 3,600 + 2,400 = 9,000/3 = 3,000 x 2 = 6,000
MK’s Capital A/c Dr. 500
To GK’s Capital A/c 250
To SK’s Capital A/c 250
Solution 10:
Old Share = 5 : 3
New Share = 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
Ramdev = 5/8 – 1/2 = 1/8 sacrifice
Shyamdev = 3/8 – 1/2 = 1/8 gain
P/L A/c Dr. 2,000
To Ramdev 1,250
To Shyamdev 750
General Reserve Dr. 1,000
To Ramdev 625
To Shyamdev 375
Solution 11:
Old Share = 1 : 1 : 1
New Share = 3 : 2 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
Lagan = 1/3 – 3/6 = 1/6 gain
Magan = 1/3 – 2/6 = No sacrifice no gain
Chagan = 1/3 – 1/6 = 1/6 sacrifice
When they distribute General Reserve
General Reserve Dr. 21,000
To Lagan 7,000
To Magan 7,000
To Chagan 7,000
When they do not distribute General Reserve
Lagan Dr. 3,500
To Chagan 3,500
Lagan = 21,000 x 1/6 = 3,500
Chagan = 21,000 x 1/6 = 3,500
Solution 12:
Old Share = 5 : 4 : 2
New Share = 4 : 3 : 2
Calculation of Sacrifice/Gain Share = Old share – new share
SK = 5/11 – 4/9 = 1/99 sacrifice
VK = 4/11 – 3/9 = 3/99 sacrifice
MK = 2/11 – 2/9 = 4/99 Gain
34,900 – 5,200 = 29,700
MK’s Gain = 29,700 x 4/99 = 1,200
SK’s Sacrifice = 29,700 x 1/99 = 300
VK’s Sacrifice = 29,700 x 3/99 = 900
MK Dr. 1,200 To SK 300
To VK 900
Solution 13:
Old Share = 3 : 2
New Share = 1 : 1 given
Calculation of Sacrifice/Gain Share = Old share – new share
Ram = 3/5 – A = 1/10 sacrifice
Rahim = 2/5 – A = 1/10 gain
Increase in fixed assets = 5,000
Increase in debtors = 250
Total = 5,250
Rahim’s Capital A/c Dr. 525
To Ram’s Capital A/c 525
Solution 14:
Old Share = 3 : 2
New Share = 1 : 1
Calculation of Sacrifice/Gain Share = Old share – new share
A = 3/5 – A = 1/10 sacrifice
B = 2/5 – A = 1/10 gain
Revaluation Account
Solution 15:
Old Share = 2:2:1
New Share = 1:1:1
MM’s Sacrifice = 2/5 – 1/3 = 1/15
SS’s Sacrifice = 2/5 – 1/3 = 1/15
JJ’s Gain = 1/5 – 1/3 = 2/15
JJ’s Capital A/c Dr. 400
To MM’s Capital A/c 200
To SS’s Capital A/c 200
(Being goodwill adjusted)
Fixed Assets increase = 7,500
Creditors decrease = 250
Total = 7,750
JJ’s Capital A/c Dr. 1,033
To MM’s Capital A/c 517
To SS’s Capital A/c 576
Retained Earnings Dr. 2,000
To MM 800
To SS 800
To JJ 400
Solution 16:
Old Share = 3 : 3 : 2
New Share = 1 : 1 : 1
Sacrifice/Gain
A = 3/8 – 1/3 = 1/24 sacrifice
B = 3/8 – 1/3 = 1/24 sacrifice
C = 2/8 – 1/3 = 2/24 gain
C’s Capital A/c Dr. 3,750
To A’s Capital A/c 1,875
To B’s Capital A/c 1,875
(Being goodwill adjusted)
Goodwill = 10,000 x 4.5 = 45,000 x 2/24 = 3,750
Total Capital = 74,375 + 74,375 + 46,250 = 1,95,000 (now adjusted it in 1 : 1 : 1)
Brilliant Problems
Solution 1:
Profit is given for 5 years but we need profit of 4 years only.
2,00,000 – 1,00,000 + 3,00,000 + 5,00,000 = 9,00,000
Ram Dr. 1,50,000
To Shyam 30,000
To Mohan 1,20,000
Solution 2:
Analytical Table
Vinay Dr. 1,35,000
To Suraj 1,35,000
Solution 3:
Already distributed = 39,000 + 54,000 – 18,000 + 75,000 = 1,50,000
C’s Capital A/c Dr. 16,000
To A 10,000
To B 6,000
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