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Accounting Adjustments

Class 12 Accountancy के इस tag से जुड़े questions। हर question के साथ chapter, topic, level और difficulty दी गई है।

AccountancyWhat does the final balance of the Realisation Account indicate upon the dissolution of a partnership firm?Class 12Dissolution of a Partnership FirmClosing the BusinessHard AccountancyIn the context of settling liabilities and selling assets, which of the following situations increases realisation profit?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyOn dissolution of the firm, A and B share profits in the ratio 7:3. If the Realisation Account shows a profit of ₹50,000, what amount will be credited to B’s share?Class 12Dissolution of a Partnership FirmClosing the BusinessExpert AccountancyHow will the salary due to a deceased partner up to the date of death be recorded in the partner’s account?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareHard AccountancyOn the death of a partner, the total claim is ₹1,32,000 and the revaluation loss is ₹7,000. What net amount will be payable to the deceased partner’s successor after adjusting the loss?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareHard AccountancyWhich of the following items is not affected by the payment of the principal amount of a retiring or deceased partner’s loan account?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountExpert AccountancyThe Workmen Compensation Reserve is ₹1,50,000, while the claim against it is ₹66,000. The old partners share profits in the ratio 4:3:2. How much of the excess reserve will be credited to the account of the third old partner?Class 12Reconstitution - Admission of a PartnerReservesExpert AccountancyIn a firm, A and B share profits and losses in the ratio of 4:3. At the time of admission, the General Reserve is ₹70,000 and the Capital Reserve is ₹42,000. New partner C is admitted. If both reserves are distributed among the old partners in their old ratio, what total amount will be credited to B’s Capital Account?Class 12Reconstitution - Admission of a PartnerReservesExpert AccountancyAt the time of a new partner’s admission, the old partners discovered that a loan of ₹50,000 recorded in the books was actually a partner’s personal loan. What effect will removing this liability from the firm’s books have on the Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationHard AccountancyAn old investment has a book value of ₹88,000. On revaluation, its value increases to ₹96,000, and an expense of ₹3,500 related to the investment becomes payable. What will be the net effect of revaluation?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpert AccountancyIn the Revaluation Account, furniture is increased by ₹2,000 and stock is decreased by ₹700. What will be the net result of these adjustments?Class 12Reconstitution - Admission of a PartnerAsset RevaluationEasy AccountancyA and B share profits in the ratio of 2:1. Interest on A’s drawings is ₹9,000 and on B’s drawings is ₹3,000. By how much will the firm’s total profit increase before profit distribution?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyIf interest on capital is treated as interest on a loan and charged to the Profit and Loss Account, what is the main error?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyIn a partnership goodwill adjustment, if A was entitled to receive a share of goodwill but did not actually receive the amount, what entry will be made in A's capital account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf a partner invested additional capital in the firm and this is recorded in the books, on which side will his capital account be shown?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf interest on drawings should be Rs 4,000 but only Rs 1,000 was charged, what is the additional debit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyUnder the fixed capital method, if drawings were mistakenly recorded in the capital account, to which account should they correctly have been posted?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf the firm guarantees A a minimum profit of Rs 50,000 and A's normal share is Rs 55,000, what will be the effect of the guarantee?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyB's current account shows a debit balance of Rs 17,000 and the capital account shows a credit balance of Rs 95,000. What will be the new capital balance after transferring the current account balance into capital?Class 12Partnership Accounts - Basic ConceptsCapital AccountsExpert AccountancyA's current account opened with a credit balance of Rs 6000. During the year A was credited salary Rs 12000 and interest on capital Rs 5000; drawings amounted to Rs 15000 and interest on drawings Rs 1200 was charged. What is the closing balance of the current account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsExpert