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Charge Against Profit

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

AccountancyAfter a partner retires, the amount due to him is transferred to the Partner’s Loan Account. Evaluate the following statement in this context: “The retiring partner’s Loan Account is a liability of the firm, and interest payable on it is a charge against profit.”Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountExpert AccountancyFor a loan taken from a partner, what is the correct accounting treatment of interest due when the firm's profit is very low?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountExpert AccountancyWhy is interest on a retiring partner loan not treated as appropriation of profit?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountExpert AccountancyInterest on retiring partner loan is treated as what kind of expense for the firm?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountMedium AccountancyIf interest on a loan given by a partner to the firm was omitted, what type of item is it?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyThe deed says the managing partner's bonus will be treated as an expense before calculating profit. Which account will be debited?Class 12Partnership Accounts - Basic ConceptsPartnership DeedMedium AccountancyThe deed states that partner salary is payable irrespective of profit or loss. What will be its accounting nature?Class 12Partnership Accounts - Basic ConceptsPartnership DeedMedium AccountancyIf the deed clearly says interest on capital is payable irrespective of profit or loss how will it be treated?Class 12Partnership Accounts - Basic ConceptsPartnership DeedHard AccountancyThe deed says interest on partner's loan will be paid even if the firm has a loss. What is the nature of this interest?Class 12Partnership Accounts - Basic ConceptsPartnership DeedMedium AccountancyIf the deed says salary is a charge against profit, what will be its effect when there is a loss?Class 12Partnership Accounts - Basic ConceptsPartnership DeedMedium AccountancyIf the deed clearly states that interest on capital is a charge against profit, what happens in case of loss?Class 12Partnership Accounts - Basic ConceptsPartnership DeedMedium