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Excess Liability

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

AccountancyA and B share profits and losses in the ratio of 9:4. The Contingency Reserve is ₹78,000, whereas the actual liability is ₹91,000. What amount of the additional loss will be debited to B’s account?Class 12Reconstitution - Admission of a PartnerReservesExpert AccountancyA firm's Contingency Reserve is ₹46,000, whereas the actual liability is found to be ₹58,000. At the time of admission of a new partner, what is the correct accounting treatment of this excess liability?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyThe Contingency Reserve is ₹34,000, whereas the related actual liability is determined to be ₹41,000. What is the correct accounting treatment for the liability exceeding the reserve?Class 12Reconstitution - Admission of a PartnerReservesHard AccountancyContingency Reserve is ₹28000 and liability is fixed at ₹35000. What is the correct effect of excess liability?Class 12Reconstitution - Admission of a PartnerReservesHard