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Profit Appropriation

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

AccountancyWhy is a deceased partner’s share of profit calculated only up to the date of death and not for the future period?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyA partner dies during the year. If the profit up to the date of death is estimated on a time basis, which formula correctly calculates the deceased partner’s share of profit?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyWhich statement is correct regarding a deceased partner’s share of profit in a partnership firm?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyA partner dies four months after the beginning of the financial year. If the firm’s estimated annual profit is ₹1,50,000 and profit is earned uniformly throughout the year, what will be the profit up to the date of death?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert AccountancyIn a partnership maintaining fluctuating capital accounts, to which account is the deceased partner’s share of profit up to the date of death credited before the final payment?Class 12Reconstitution - Retirement or Death of a PartnerDeceased Partner’s ShareExpert 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 AccountancyA and B share profits in the ratio 5:3. The total profit before appropriation is ₹1,10,000. According to the partnership agreement, B is to receive a salary of ₹30,000 before the remaining profit is shared. What will be A’s share of profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyA and B share profits in the ratio of 2:1. Interest on A’s drawings is ₹9,000 and on B’s drawings is ₹3,000. By how much will the firm’s total profit increase before profit distribution?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyA and B share profits in the ratio 3:2. A is entitled to a salary of ₹18,000, and B is entitled to a commission of 10% of the profit before charging commission. If the profit is ₹90,000, what amount of residual profit will be distributed between A and B?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyA and B share profits in the ratio 5:3. A’s annual salary is ₹36,000 and B’s commission is ₹24,000. Total profit is ₹1,40,000. What is A’s share in the remaining profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionMedium 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 partner's commission of Rs 9,000 was omitted from the books. What will be the effect on the remaining profit to be distributed among partners?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyIf interest on drawings is credited in the Profit and Loss Appropriation Account, how does it affect the remaining profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionMedium AccountancyIf the deed provides interest on capital but profit is not sufficient in the year, what is the general adjustment limit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionMedium AccountancyIf a general reserve is to be created, how will it be adjusted in the Profit and Loss Appropriation Account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyIf interest on capital is to be allowed before distributing profit, which account will be debited?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyInterest on drawings of Rs 11,000 was wrongly debited to the appropriation account. It should have been credited. By how much will distributable profit be understated?Class 12Partnership Accounts - Basic ConceptsProfit DistributionHard AccountancyIf partner commission Rs 12000 is wrongly credited to appropriation account though it should be debited what is the effect on remaining profit?Class 12Partnership Accounts - Basic ConceptsProfit DistributionHard AccountancyThe deed says first create twenty percent reserve and then give A ten percent commission on remaining profit. Profit is Rs 200,000. What is the commission?Class 12Partnership Accounts - Basic ConceptsProfit DistributionHard AccountancyA receives a salary of Rs 24,000 and a commission of 10% on profit after charging such commission. Profit before salary is Rs 134,000. What is A's commission?Class 12Partnership Accounts - Basic ConceptsProfit DistributionHard