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Current Account

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

AccountancyIf a partner's current account shows a credit balance and it is presented on the assets side of the balance sheet, what type of error has occurred?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf debit balance of current account is shown on liabilities side of balance sheet what error occurs?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method revaluation profit is distributed among partners. If capital accounts are to remain fixed where will this profit be credited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method A capital is one lakh rupees and B capital is eighty thousand rupees. A current account has debit ten thousand and B current account has credit ten thousand. What capital ratio should be considered?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf partners current account has debit balance and he deposits cash which account is credited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf partners current account has credit balance and it is paid in cash which account is debited?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method B current account closing balance is credit twenty thousand rupees. If drawings of four thousand rupees were not recorded what is correct balance?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method if debit balance of current account is adjusted against partners capital what will be the effect?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf regular drawings are treated as permanent capital withdrawal under the fixed capital method, what type of error occurs?Class 12Partnership Accounts - Basic ConceptsCapital AccountsMedium AccountancyUnder fixed capital method current account has debit balance twenty thousand rupees and capital account has credit balance fifty thousand rupees. If both are presented net what will be net liability?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method A capital is one lakh rupees and current account has credit balance fifteen thousand rupees. If the deed says interest on capital is only on capital account balance what is the base for interest?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method B current account has opening debit balance seven thousand rupees. Interest on capital is four thousand rupees share of profit is ten thousand rupees drawings are fourteen thousand rupees and loss adjustment is five thousand rupees. What is closing balance?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method A current account has opening credit of eight thousand rupees. He receives salary fifteen thousand rupees commission five thousand rupees and has drawings sixteen thousand rupees and interest on drawings three thousand rupees. What is closing current account balance?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method goodwill adjustment was wrongly recorded in capital account while goodwill benefit should go to old partners current accounts. What will be the effect?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method how does credit balance of current account affect capital?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method the firm paid partners personal insurance premium of four thousand rupees. What is the correct effect?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method interest on drawings was wrongly credited in current account. If the amount is two thousand rupees what is total error in current account?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf two partners capital accounts are fixed but one partner has a large debit current account balance what caution should be taken while comparing capital ratio?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder fixed capital method A current account had opening credit ten thousand rupees. He received salary nine thousand rupees share of loss seven thousand rupees and drawings eight thousand rupees. What is closing current account balance?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyUnder the fixed capital method, when the drawings account is closed at year end, which account is affected (debited)?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard