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Appropriation

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

AccountancyWhat will be the result if interest on retiring partner's loan is treated as interest on capital and posted to Appropriation Account?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyWhy is interest on a retiring partner's loan not usually transferred to Profit and Loss Appropriation Account?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountEasy AccountancyA and B share profits in the ratio 4:1. A gets salary ₹25000 and B gets interest on capital ₹15000. Total profit is ₹90000. What is B's total share?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyProfit is ₹50000. Interest on capital is ₹32000 and partner salary is ₹28000. The deed gives no priority. How will total claims be reduced?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyIn an appropriation account, interest on capital is ₹30,000 and interest on drawings is ₹5,000. There are no other appropriations. What is the net effect on profit before distribution to partners?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyA B and C share profits in the ratio 3:2:1. Total profit is ₹96000. A gets salary ₹12000 and C gets interest on capital ₹6000. What is B's share of remaining profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyThe deed states that A will get managerial commission at 10% of profit and it is to be given before profit distribution. In which account will it appear?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyProfit is ₹70000. Interest on capital due is ₹50000 and partner salary due is ₹30000. The deed says both are payable only if there is profit. What is the correct treatment?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyWhat is the correct treatment of interest on drawings in the Profit and Loss Appropriation Account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyInterest on drawings Rs 5000 was debited to appropriation account though it should have been credited. What is the effect on distributable profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium 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 AccountancyIf interest on capital Rs 3000 is credited to appropriation account though it should be debited what is the effect on remaining profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyIf interest on drawings Rs 2000 is debited to appropriation account though it should be credited what is the effect on distributable profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyThere is loss in the year but interest on drawings is clearly provided in the deed. How will it be treated in appropriation account?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyPartner salary Rs 32000 was wrongly credited to appropriation account though it should be debited. What is the effect on remaining profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyInterest on capital Rs 55000 was deducted from net profit as expense. Actually it was appropriation. What should be done in correction?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyNet profit is Rs 420000. Interest on drawings is Rs 18000. Interest on capital is Rs 75000 salary is Rs 60000 reserve is Rs 45000 and commission is Rs 24000. What will be the remaining distributable profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyProfit of Rs 1,50,000 was wrongly shared in the ratio 3:2:1 instead of the correct ratio 2:3:1. How much more will B receive on adjustment?Class 12Partnership Accounts - Basic ConceptsProfit DistributionMedium AccountancyInterest on capital Rs 45000 was deducted from net profit as expense. Actually it was appropriation. What should be done in profit distribution correction?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert AccountancyNet profit is Rs 300000. Interest on drawings is Rs 15000. Interest on capital is Rs 60000 salary is Rs 40000 and reserve is Rs 30000. What is the remaining profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionExpert