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Liability Reduction

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

AccountancyDebit to which account will reduce the liability of a retiring partner's loan?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHardAccountancyWhat is the effect of an amount paid in the loan account?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountMediumAccountancyAn old bill payable amounted to ₹96,000. The creditor accepted ₹88,800 in full and final settlement. What will be the effect at the time of revaluation of assets and liabilities?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpertAccountancyCreditors were recorded at ₹2,25,000 and were settled by mutual agreement for ₹2,10,500. What effect will be recorded in the Revaluation Account at the time of reconstitution?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpertAccountancyAt 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 RevaluationHardAccountancyOld creditors were ₹1,20,000 and after settlement the liability remains ₹1,08,000. What happens in Revaluation Account?Class 12Reconstitution - Admission of a PartnerAsset RevaluationExpertAccountancyIf a liability is reduced in revaluation then at what value will it appear in the final balance sheet?Class 12Reconstitution - Admission of a PartnerAsset RevaluationEasy

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