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Partnership

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

AccountancyIn a partnership firm partners A and B are entitled to interest on capital. At year end the profit is insufficient. What is the correct treatment of interest on capital?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyA and B shared profit equally. Later it was found that A's salary of ₹12000 was due and interest on B's drawings of ₹4000 was to be charged. What is the net correction?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyIf interest on drawings is omitted before profit distribution, what is the first direct effect?Class 12Partnership Accounts - Basic ConceptsProfit DistributionEasy AccountancyPartner A has interest on capital ₹10000 and interest on drawings ₹1500. Under fluctuating capital method what is the net effect on A's capital account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA has taken a loan of ₹80000 from the firm and the deed has no provision for interest. What is the treatment of interest for the firm?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA and B share profits in the ratio 3:2. A has a minimum income guarantee of ₹50000 including salary and profit share. A's salary is ₹20000 and total profit is ₹100000. Is any extra guarantee payable?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard 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 partnership deed provides interest on drawings but dates of drawings are not given. Drawings are assumed evenly throughout the year. What time period is used?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA and B maintain fixed capitals. At year end A's current account shows a debit balance. What does it generally mean?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA and B share profits in the ratio 2:1. A's salary of ₹18000 was wrongly debited to expense and also debited in appropriation. Accounts are closed. What is the correction?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 AccountancyA withdrew ₹10000 on 1 July and ₹20000 on 1 January. The year ends on 31 March. Rate of interest is 12%. What is interest by product method?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyIf the dates of a partner’s drawings are given, which method is most appropriate for calculating interest on drawings?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyProfit is ₹90000. A gets salary ₹15000 and B gets commission at 10% on remaining profit. A and B share the balance equally. What is B's total share?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA B and C share profits in the ratio 3:2:1. A's salary of ₹24000 was omitted. Profit was already distributed in ratio. Which partner will have the highest debit effect?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyThe deed states that interest on capital is payable irrespective of profit or loss. There is a loss of ₹10,000 and interest on capital is ₹30,000. What total debit will be shared among the partners?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyA and B shared profit of ₹40000 equally. Later it was found that interest on B's drawings of ₹20000 at 10% for six months was not charged. What is the correction?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyProfit is ₹1,20,000. A and B share profits in the ratio 1:2. A receives a salary of ₹30,000 and B receives interest on capital of ₹15,000. What is B’s share of the remaining profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyA and B share profits in the ratio 3:2. A withdrew ₹6000 with interest ₹600. B withdrew ₹9000 with interest ₹900. What total credit will appear in the appropriation account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyA B and C share profits in the ratio 2:2:1. C is guaranteed ₹18000 by all partners in profit ratio. Profit is ₹60000. What is A's final share?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard