Maharashtra Board Class 12th Solutions for Accountancy Chapter 5 Reconstitution of Partnership Death of Partner – Download PDF with Solutions
Students of Maharashtra Board Class 12 Commerce have an important chapter included in their Accountancy syllabus. The chapter titled ‘Reconstitution of Partnership Death of a Partner’ is, no doubt, an essential chapter for the students. In this chapter, students can learn about the conditions and adjustments that are made to a partnership in case one of the partners dies. To understand the chapter in more detail, download the notes provided by Vedantu for this chapter.
For students who seek some help in gaining a proper idea about the concepts in this chapter, there are notes and solutions provided by Vedantu. The solutions will guide the students through the important contents in the chapter and give them good foundational knowledge about it. Vedantu experts have managed to create reliable solutions for the exercise questions in order to make the learning process easier for students. Download Maharashtra Board 12th Textbook Solutions Chapter 5 Reconstitution of Partnership Death of Partner for learning assistance.
Maharashtra Board Class 12 Solutions for Accountancy Chapter 5 Reconstitution of Partnership Death of Partner - PDF will be uploaded soon
Importance of Maharashtra Board Accountancy Class 12 Chapter 5
Reconstitution of Partnership (Death of Partner) is without a doubt one of the most important chapters of the Accountancy syllabus for Class 12 Maharashtra Board students. For students that want to score great marks in exams, it is important for them to prepare the chapter thoroughly and be able to answer any question related to the topics.
This is why taking help from Vedantu, students can easily understand the chapter and its contents. After completing the chapter, students are able to learn how to properly calculate the ratios for profit sharing before and after the death of a partner. They will also be able to properly calculate the profit right up to the date of death of the partner.
The chapter also enables students to calculate the share of goodwill of the partner that is deceased. They will be able to calculate the amount due to the deceased partner’s executor and how to settle the account of the executor properly. Each and every single topic or sub-topic in the chapter has been explained in detail using examples and explanations. This can help students get a better understanding of the chapter easily.
Benefits of MSBSHSE Class 12 Accountancy Chapter 5 Solutions
The solutions prepared by experts at Vedantu are completely reliable and accurate, and hence students of the Maharashtra Board finally have a secure place to find all the study resources that they want.
The notes and solutions contain detailed explanations of each and every topic with examples, definitions, etc. to make the learning process easier and more efficient for the students.
Students can use these study materials to clear any doubts that they have about the chapter and rectify their answers to questions as well.
Download MSBSHSE Class 12 Accountancy Chapter 5 Solutions Right Now
Get details about changes made to a partnership after the death of a partner by downloading the notes and solutions provided by Vedantu. Download Maharashtra Board Book Keeping And Accountancy 12th Notes Chapter 5 Reconstitution of Partnership Death of Partner from Vedantu and start your exam preparation. Students should also download the solutions in order to understand which topics are of importance in the chapter. Start practising with these important questions and solutions from Vedantu and you will surely gain a good understanding of the chapter.
FAQs on Maharashtra Board Class 12 Solutions for Accountancy Chapter 5 Reconstitution of Partnership Death of Partner
1. What happens when a partner dies in a partnership?
The person will cease to become a partner in the firm, and hence it will be considered a compulsory retirement.
2. What happens to the profit-sharing ratio after the death of a partner?
There is a new profit-sharing ratio between the existing partners after the death of one of the partners. The profit sharing of the deceased partner is then divided amongst the remaining partners.
3. Where is the General Reserve transferred to after the death of a partner?
The general reserve is transferred to the capital accounts of the partners in the old profit sharing ratio.
4. What does the Benefit Ratio mean?
The ratio by which the remaining partners are benefitted from the death of a partner is called the Benefit Ratio.
5. On which side of the balance sheet is the Profit and Loss Suspense Account shown?
The Profit and Loss Suspense account is shown on the Assets side of the balance sheet.