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Rectification

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

AccountancyThe agreement clearly says no interest will be allowed, yet ₹6300 interest was added. What will be the correct effect of rectification entry?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyPayment of ₹65000 was wrongly credited to the loan account, whereas it should have been debited. By what amount should the loan account be debited in rectification?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyIf the agreement clearly says no interest, but the accountant added ₹8000 interest. Which correction is correct?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyPayment of ₹75000 was wrongly credited to the retiring partner's loan account, though the correct treatment was debit. By what amount should the loan account be debited for rectification?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyA firm wrongly credited ₹50000 payment in the retiring partner's loan account. What type of rectification entry is needed?Class 12Reconstitution - Retirement or Death of a PartnerPartner's Loan AccountHard AccountancyA and B share profits in the ratio 2:1. Correct interest on capital was ₹18,000 and ₹12,000, but it was wrongly allowed as ₹20,000 and ₹10,000. What will happen in rectification?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyInterest on capital (₹24000) was omitted last year. Profit had been shared in (3:1). A and B's interest amounts are (₹15000) and (₹9000). Who will gain in rectification?Class 12Partnership Accounts - Basic ConceptsAdjustmentsExpert AccountancyThe firm paid ₹12,000 for partner A’s personal expense in cash but recorded it as a business expense. What effect will the rectifying entry have on A’s account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsHard AccountancyPartner salary of Rs 8,000 was credited to the Appropriation Account although it should have been debited. What is the effect on remaining profit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyInterest on drawings of Rs 1,500 was credited to the partner's account although it should have been debited. What is the effect?Class 12Partnership Accounts - Basic ConceptsAdjustmentsMedium AccountancyIf a partner's drawings were recorded in the books in excess, what entry will correct his account?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf partner commission was overallowed what will be done to the concerned partners account in correction?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyA firm expense was wrongly debited to a partner’s account. What is the correct correction?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf interest on capital was overallowed how will the concerned partners account be corrected?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf interest on drawings was overcharged, how should the concerned partner’s account be corrected?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf interest on drawings should be Rs 4,000 but only Rs 1,000 was charged, what is the additional debit?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyIf A's drawings were wrongly debited to B's account, what is the correct rectification entry?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyWhat is the main purpose of adjustments in partnership accounts?Class 12Partnership Accounts - Basic ConceptsAdjustmentsEasy AccountancyUnder fixed capital method revaluation loss should be debited to current account but was debited to capital account. What is correct correction?Class 12Partnership Accounts - Basic ConceptsCapital AccountsHard AccountancyIf the firm paid A's personal income tax of Rs 18,000 and it was wrongly recorded as a firm expense, what is the correct entry in the capital/accounts?Class 12Partnership Accounts - Basic ConceptsCapital AccountsExpert