Paying a private liability benefits the partner personally so his capital account is debited. Treat private payment like a withdrawal in exams.
Step 2
Why this answer is correct
The correct answer is A. डेबिट / Debit. Paying a private liability benefits the partner personally so his capital account is debited. Treat private payment like a withdrawal in exams.
Step 3
Exam Tip
निजी देनदारी चुकाना साझेदार के लिए व्यक्तिगत लाभ है इसलिए उसका पूंजी खाता डेबिट होगा। परीक्षा में निजी भुगतान को साझेदार की निकासी जैसा मानें।
The firm paid A's private liability so A's capital account is debited. Do not treat a private item as firm's liability in exams.
Step 2
Why this answer is correct
The correct answer is A. रुपये 11000 डेबिट / Debit ₹11000. The firm paid A's private liability so A's capital account is debited. Do not treat a private item as firm's liability in exams.
Step 3
Exam Tip
फर्म ने अ की निजी देनदारी चुकाई इसलिए अ का पूंजी खाता डेबिट होगा। परीक्षा में निजी मद को फर्म की देनदारी न मानें।
Bringing private asset benefits the firm so the partner's capital account is credited. Treat it as partner's contribution in exams.
Step 2
Why this answer is correct
The correct answer is B. क्रेडिट / Credit. Bringing private asset benefits the firm so the partner's capital account is credited. Treat it as partner's contribution in exams.
Step 3
Exam Tip
निजी संपत्ति लाने से फर्म को लाभ मिलता है इसलिए साझेदार का पूंजी खाता क्रेडिट होता है। परीक्षा में इसे साझेदार का योगदान मानें।
B gave a private asset for the firm so his capital account is credited. In exams treat private contribution as increase in capital.
Step 2
Why this answer is correct
The correct answer is B. रुपये 40000 क्रेडिट / Credit ₹40000. B gave a private asset for the firm so his capital account is credited. In exams treat private contribution as increase in capital.
Step 3
Exam Tip
ब ने फर्म के लिए निजी संपत्ति दी इसलिए उसका पूंजी खाता क्रेडिट होगा। परीक्षा में निजी योगदान को पूंजी वृद्धि समझें।
The partner's capital account records the agreed takeover value. In exams use agreed value, not book value.
Step 2
Why this answer is correct
The correct answer is B. सहमत मूल्य / Agreed value. The partner's capital account records the agreed takeover value. In exams use agreed value, not book value.
Step 3
Exam Tip
साझेदार के पूंजी खाते में हमेशा सहमत लेने का मूल्य लिखा जाता है। परीक्षा में पुस्तक मूल्य नहीं बल्कि agreed value देखें।
Only the agreed takeover value is debited to the partner's capital account. Do not get confused by book value in exams.
Step 2
Why this answer is correct
The correct answer is B. रुपये 18000 / ₹18000. Only the agreed takeover value is debited to the partner's capital account. Do not get confused by book value in exams.
Step 3
Exam Tip
साझेदार को लेने का सहमत मूल्य ही पूंजी खाते में डेबिट होता है। परीक्षा में book value से भ्रमित न हों।
When a liability is taken over the partner is credited with the agreed liability amount. Record the agreed settlement amount in exams.
Step 2
Why this answer is correct
The correct answer is B. सहमत देनदारी मूल्य / Agreed liability value. When a liability is taken over the partner is credited with the agreed liability amount. Record the agreed settlement amount in exams.
Step 3
Exam Tip
देनदारी लेने पर साझेदार को सहमत देनदारी राशि से क्रेडिट किया जाता है। परीक्षा में agreed settlement amount लिखें।
Taking over liability credits capital with the agreed amount ₹26000. Do not directly use book amount in exams.
Step 2
Why this answer is correct
The correct answer is B. रुपये 26000 क्रेडिट / Credit ₹26000. Taking over liability credits capital with the agreed amount ₹26000. Do not directly use book amount in exams.
Step 3
Exam Tip
देनदारी लेने पर पूंजी खाता सहमत राशि रुपये 26,000 से क्रेडिट होगा। परीक्षा में पुस्तक राशि को सीधे न लिखें।
Right to collect debtors is like taking an asset so the partner's capital account is debited. Treat debtors taken over as asset taken over.
Step 2
Why this answer is correct
The correct answer is A. डेबिट / Debit. Right to collect debtors is like taking an asset so the partner's capital account is debited. Treat debtors taken over as asset taken over.
Step 3
Exam Tip
देनदार वसूलने का अधिकार संपत्ति लेने जैसा है इसलिए साझेदार का पूंजी खाता डेबिट होगा। परीक्षा में debtors taken over को asset taken over मानें।
Taking stock is like taking an asset so capital account is debited. In exams debit partner capital for stock taken over.
Step 2
Why this answer is correct
The correct answer is B. डेबिट / Debit. Taking stock is like taking an asset so capital account is debited. In exams debit partner capital for stock taken over.
Step 3
Exam Tip
माल लेना संपत्ति लेने जैसा है इसलिए पूंजी खाता डेबिट होगा। परीक्षा में stock taken over को partner capital debit करें।
Taking stock gives debit and paying firm expenses gives credit. Net effect is ₹14500 minus ₹3500 which is debit ₹11000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 11000 डेबिट / Debit ₹11000. Taking stock gives debit and paying firm expenses gives credit. Net effect is ₹14500 minus ₹3500 which is debit ₹11000.
Step 3
Exam Tip
माल लेने पर डेबिट और खर्च चुकाने पर क्रेडिट होता है। शुद्ध प्रभाव रुपये 14,500 घट रुपये 3,500 यानी रुपये 11,000 डेबिट है।
A. लाभ अनुपात में क्रेडिट/Credited in profit sharing ratio
Step 1
Concept
It is a reserve like accumulated profit so it is credited to partners. Identify reserves by their nature in exams.
Step 2
Why this answer is correct
The correct answer is A. लाभ अनुपात में क्रेडिट / Credited in profit sharing ratio. It is a reserve like accumulated profit so it is credited to partners. Identify reserves by their nature in exams.
Step 3
Exam Tip
यह संचित लाभ जैसा आरक्षित है इसलिए साझेदारों को क्रेडिट किया जाता है। परीक्षा में reserve को उसके स्वभाव से पहचानें।
Claim over reserve is a firm's loss and goes to realisation account. First adjust reserve and take excess to realisation in exams.
Step 2
Why this answer is correct
The correct answer is A. वसूली खाता / Realisation account. Claim over reserve is a firm's loss and goes to realisation account. First adjust reserve and take excess to realisation in exams.
Step 3
Exam Tip
आरक्षित से अधिक दावा फर्म की हानि है और वसूली खाते में जाएगा। परीक्षा में reserve पहले adjust करें और excess को realisation में लें।
Claim is more than the reserve so no reserve balance goes to partners. Only remaining reserve is credited to capital in exams.
Step 2
Why this answer is correct
The correct answer is C. शून्य / Nil. Claim is more than the reserve so no reserve balance goes to partners. Only remaining reserve is credited to capital in exams.
Step 3
Exam Tip
दावा आरक्षित से अधिक है इसलिए साझेदारों को कोई शेष आरक्षित नहीं मिलेगा। परीक्षा में केवल बची हुई reserve राशि ही capital में credit होती है।
Investment loss exceeds the reserve so no balance is left for partners. Excess loss goes to realisation account in exams.
Step 2
Why this answer is correct
The correct answer is C. शून्य / Nil. Investment loss exceeds the reserve so no balance is left for partners. Excess loss goes to realisation account in exams.
Step 3
Exam Tip
निवेश हानि आरक्षित से अधिक है इसलिए कोई शेष राशि साझेदारों को नहीं मिलेगी। परीक्षा में excess loss वसूली खाते में जाएगा।
A. साझेदारों के पूंजी खातों में क्रेडिट/Credit to partners' capital accounts
Step 1
Concept
After deducting investment loss the remaining reserve goes to partners like accumulated profit. Distribute the balance in profit sharing ratio.
Step 2
Why this answer is correct
The correct answer is A. साझेदारों के पूंजी खातों में क्रेडिट / Credit to partners' capital accounts. After deducting investment loss the remaining reserve goes to partners like accumulated profit. Distribute the balance in profit sharing ratio.
Step 3
Exam Tip
निवेश हानि घटाने के बाद बची reserve राशि संचित लाभ की तरह साझेदारों को मिलती है। परीक्षा में balance को लाभ अनुपात में बांटें।
A. जब देनदारों की हानि समायोजित कर शेष बच जाए/When balance remains after adjusting loss on debtors
Step 1
Concept
Remaining provision may be given to partners like accumulated profit. First adjust related debtor loss in exams.
Step 2
Why this answer is correct
The correct answer is A. जब देनदारों की हानि समायोजित कर शेष बच जाए / When balance remains after adjusting loss on debtors. Remaining provision may be given to partners like accumulated profit. First adjust related debtor loss in exams.
Step 3
Exam Tip
प्रावधान का शेष हिस्सा संचित लाभ जैसा साझेदारों को दिया जा सकता है। परीक्षा में पहले संबंधित debtor loss adjust करें।
C. लाभ और हानि खाते का डेबिट शेष/Debit balance of profit and loss account
Step 1
Concept
Debit balance of profit and loss account is accumulated loss so it is debited to capital account. Keep losses on debit side in exams.
Step 2
Why this answer is correct
The correct answer is C. लाभ और हानि खाते का डेबिट शेष / Debit balance of profit and loss account. Debit balance of profit and loss account is accumulated loss so it is debited to capital account. Keep losses on debit side in exams.
Step 3
Exam Tip
लाभ और हानि खाते का डेबिट शेष संचित हानि है इसलिए पूंजी खाते में डेबिट होता है। परीक्षा में losses को debit side पर रखें।
General reserve is accumulated profit so it is credited to partners. Identify reserves on credit side in exams.
Step 2
Why this answer is correct
The correct answer is C. सामान्य आरक्षित / General reserve. General reserve is accumulated profit so it is credited to partners. Identify reserves on credit side in exams.
Step 3
Exam Tip
सामान्य आरक्षित संचित लाभ है इसलिए साझेदारों को क्रेडिट होता है। परीक्षा में reserves को credit side पर पहचानें।
Taking asset reduces capital and if it exceeds capital it may create debit balance. Find final balance to decide payment or recovery.
Step 2
Why this answer is correct
The correct answer is A. डेबिट शेष / Debit balance. Taking asset reduces capital and if it exceeds capital it may create debit balance. Find final balance to decide payment or recovery.
Step 3
Exam Tip
संपत्ति लेने से पूंजी घटती है और अधिक राशि लेने पर डेबिट शेष बन सकता है। परीक्षा में अंतिम balance निकालकर भुगतान या वसूली तय करें।
Asset taken is more than capital so the difference ₹5000 becomes debit balance. Deduct asset taken from capital in exams.
Step 2
Why this answer is correct
The correct answer is A. रुपये 5000 डेबिट / Debit ₹5000. Asset taken is more than capital so the difference ₹5000 becomes debit balance. Deduct asset taken from capital in exams.
Step 3
Exam Tip
ली गई संपत्ति पूंजी से अधिक है इसलिए अंतर रुपये 5,000 डेबिट शेष बनेगा। परीक्षा में asset taken को capital से घटाएं।
A. बैंक डेबिट और पूंजी क्रेडिट/Bank debit and capital credit
Step 1
Concept
The firm receives cash so bank is debited and partner's capital is credited. Write recovery entry correctly in exams.
Step 2
Why this answer is correct
The correct answer is A. बैंक डेबिट और पूंजी क्रेडिट / Bank debit and capital credit. The firm receives cash so bank is debited and partner's capital is credited. Write recovery entry correctly in exams.
Step 3
Exam Tip
फर्म को नकद मिलता है इसलिए बैंक डेबिट और साझेदार पूंजी क्रेडिट होती है। परीक्षा में recovery entry सही लिखें।
A. बैंक खाता डेबिट और ब पूंजी खाता क्रेडिट/Debit bank and credit B's capital
Step 1
Concept
On recovery of debit capital balance bank increases and capital account closes. Do not forget bank debit in exams.
Step 2
Why this answer is correct
The correct answer is A. बैंक खाता डेबिट और ब पूंजी खाता क्रेडिट / Debit bank and credit B's capital. On recovery of debit capital balance bank increases and capital account closes. Do not forget bank debit in exams.
Step 3
Exam Tip
डेबिट पूंजी शेष की वसूली पर बैंक बढ़ता है और पूंजी खाता बंद होता है। परीक्षा में bank debit को न भूलें।
A. पूंजी डेबिट और बैंक क्रेडिट/Capital debit and bank credit
Step 1
Concept
When payment is made to partner capital is debited and bank is credited. Close payable capital this way in exams.
Step 2
Why this answer is correct
The correct answer is A. पूंजी डेबिट और बैंक क्रेडिट / Capital debit and bank credit. When payment is made to partner capital is debited and bank is credited. Close payable capital this way in exams.
Step 3
Exam Tip
साझेदार को भुगतान करने पर पूंजी खाता डेबिट और बैंक खाता क्रेडिट होता है। परीक्षा में payable capital को इसी तरह बंद करें।
A. स पूंजी खाता डेबिट और बैंक खाता क्रेडिट/Debit C's capital and credit bank
Step 1
Concept
Credit capital balance is paid to the partner. Therefore C's capital is debited and bank is credited.
Step 2
Why this answer is correct
The correct answer is A. स पूंजी खाता डेबिट और बैंक खाता क्रेडिट / Debit C's capital and credit bank. Credit capital balance is paid to the partner. Therefore C's capital is debited and bank is credited.
Step 3
Exam Tip
क्रेडिट पूंजी शेष साझेदार को चुकाया जाता है। इसलिए स पूंजी खाता डेबिट और बैंक खाता क्रेडिट होगा।
A. वसूली खाता डेबिट और साझेदार पूंजी खाते क्रेडिट/Debit realisation and credit partners' capital accounts
Step 1
Concept
To close realisation profit realisation account is debited and partners' capital accounts are credited. Remember this profit transfer entry.
Step 2
Why this answer is correct
The correct answer is A. वसूली खाता डेबिट और साझेदार पूंजी खाते क्रेडिट / Debit realisation and credit partners' capital accounts. To close realisation profit realisation account is debited and partners' capital accounts are credited. Remember this profit transfer entry.
Step 3
Exam Tip
वसूली लाभ को बंद करने के लिए वसूली खाता डेबिट और साझेदार पूंजी खाते क्रेडिट होते हैं। परीक्षा में profit transfer entry याद रखें।
B. साझेदार पूंजी खाते डेबिट और वसूली खाता क्रेडिट/Debit partners' capital accounts and credit realisation
Step 1
Concept
Realisation loss reduces partners' capital so capital accounts are debited and realisation is credited. Do not reverse loss transfer in exams.
Step 2
Why this answer is correct
The correct answer is B. साझेदार पूंजी खाते डेबिट और वसूली खाता क्रेडिट / Debit partners' capital accounts and credit realisation. Realisation loss reduces partners' capital so capital accounts are debited and realisation is credited. Do not reverse loss transfer in exams.
Step 3
Exam Tip
वसूली हानि साझेदारों की पूंजी घटाती है इसलिए पूंजी खाते डेबिट और वसूली खाता क्रेडिट होता है। परीक्षा में loss transfer उल्टा न लिखें।
Accumulated loss is deducted and interest on capital is added. ₹48000 minus ₹7500 plus ₹2500 equals ₹43000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 43000 क्रेडिट / Credit ₹43000. Accumulated loss is deducted and interest on capital is added. ₹48000 minus ₹7500 plus ₹2500 equals ₹43000.
Step 3
Exam Tip
संचित हानि घटती है और पूंजी ब्याज जुड़ता है। रुपये 48,000 घट रुपये 7,500 जोड़ रुपये 2,500 बराबर रुपये 43,000।
C. फर्म द्वारा सीधे बाहरी देनदारी चुकाने पर/When firm directly pays outside liability
Step 1
Concept
Direct payment of outside liability by firm first goes to realisation account and does not directly affect capital. Separate direct and indirect effects in exams.
Step 2
Why this answer is correct
The correct answer is C. फर्म द्वारा सीधे बाहरी देनदारी चुकाने पर / When firm directly pays outside liability. Direct payment of outside liability by firm first goes to realisation account and does not directly affect capital. Separate direct and indirect effects in exams.
Step 3
Exam Tip
फर्म द्वारा बाहरी देनदारी भुगतान पहले वसूली खाते में जाता है और पूंजी पर सीधा प्रभाव नहीं डालता। परीक्षा में direct और indirect effect अलग करें।
A. वसूली डेबिट और साझेदार पूंजी क्रेडिट/Realisation debit and partner capital credit
Step 1
Concept
Taking over liability closes it in realisation and gives credit to partner. Remember the liability taken over entry in exams.
Step 2
Why this answer is correct
The correct answer is A. वसूली डेबिट और साझेदार पूंजी क्रेडिट / Realisation debit and partner capital credit. Taking over liability closes it in realisation and gives credit to partner. Remember the liability taken over entry in exams.
Step 3
Exam Tip
देनदारी लेने से वसूली खाते की देनदारी बंद होती है और साझेदार को क्रेडिट मिलता है। परीक्षा में liability taken over entry याद रखें।
A. साझेदार पूंजी डेबिट और वसूली क्रेडिट/Partner capital debit and realisation credit
Step 1
Concept
When asset is taken over partner's capital is debited and realisation is credited. Remember the direction for asset taken over.
Step 2
Why this answer is correct
The correct answer is A. साझेदार पूंजी डेबिट और वसूली क्रेडिट / Partner capital debit and realisation credit. When asset is taken over partner's capital is debited and realisation is credited. Remember the direction for asset taken over.
Step 3
Exam Tip
संपत्ति लेने पर साझेदार का पूंजी खाता डेबिट और वसूली खाता क्रेडिट होता है। परीक्षा में asset taken over की दिशा याद रखें।
A. पहले सभी समायोजन फिर भुगतान या वसूली/First all adjustments then payment or recovery
Step 1
Concept
First adjust all reserves, losses, assets, liabilities and expenses. Then pay or recover according to final balance.
Step 2
Why this answer is correct
The correct answer is A. पहले सभी समायोजन फिर भुगतान या वसूली / First all adjustments then payment or recovery. First adjust all reserves, losses, assets, liabilities and expenses. Then pay or recover according to final balance.
Step 3
Exam Tip
पहले सभी reserves, losses, assets, liabilities और expenses समायोजित करें। फिर अंतिम balance के अनुसार भुगतान या वसूली करें।
Realisation profit is shared in profit sharing ratio, equal capital does not change this rule. Keep capital and profit ratio separate in exams.
Step 2
Why this answer is correct
The correct answer is A. लाभ अनुपात / Profit sharing ratio. Realisation profit is shared in profit sharing ratio, equal capital does not change this rule. Keep capital and profit ratio separate in exams.
Step 3
Exam Tip
वसूली लाभ हमेशा लाभ अनुपात में बांटा जाता है, पूंजी समान होने से नियम नहीं बदलता। परीक्षा में capital और profit ratio अलग रखें।
Realisation loss is shared in profit ratio, not capital ratio. Choose profit ratio for loss sharing in exams.
Step 2
Why this answer is correct
The correct answer is A. 3 अनुपात 2 / 3:2. Realisation loss is shared in profit ratio, not capital ratio. Choose profit ratio for loss sharing in exams.
Step 3
Exam Tip
वसूली हानि लाभ अनुपात में बांटी जाती है, पूंजी अनुपात में नहीं। परीक्षा में loss sharing के लिए profit ratio चुनें।
Under fixed capital method, fixed capital is generally the base unless stated otherwise. Read the method carefully in exams.
Step 2
Why this answer is correct
The correct answer is A. स्थिर पूंजी / Fixed capital. Under fixed capital method, fixed capital is generally the base unless stated otherwise. Read the method carefully in exams.
Step 3
Exam Tip
स्थिर पूंजी पद्धति में कमी बांटने का आधार सामान्यतः स्थिर पूंजी होती है, यदि अलग निर्देश न हो। परीक्षा में method को ध्यान से पढ़ें।
A. सभी समायोजन के बाद की अंतिम पूंजी/Final capital after all adjustments
Step 1
Concept
In fluctuating capital, capital after all normal adjustments becomes the base. Find final capital before deficiency in exams.
Step 2
Why this answer is correct
The correct answer is A. सभी समायोजन के बाद की अंतिम पूंजी / Final capital after all adjustments. In fluctuating capital, capital after all normal adjustments becomes the base. Find final capital before deficiency in exams.
Step 3
Exam Tip
परिवर्तनशील पूंजी में सभी सामान्य समायोजन के बाद की पूंजी आधार बनती है। परीक्षा में deficiency से पहले final capital निकालें।
A. क्योंकि यह पूंजी खाते की कमी है, वसूली खाते की नहीं/Because it is capital account deficiency, not realisation account loss
Step 1
Concept
Insolvent partner's deficiency relates to his capital account. Show it separately from realisation loss in exams.
Step 2
Why this answer is correct
The correct answer is A. क्योंकि यह पूंजी खाते की कमी है, वसूली खाते की नहीं / Because it is capital account deficiency, not realisation account loss. Insolvent partner's deficiency relates to his capital account. Show it separately from realisation loss in exams.
Step 3
Exam Tip
दिवालिया साझेदार की कमी उसके पूंजी खाते से संबंधित होती है। परीक्षा में इसे realisation loss से अलग दिखाएं।
In payment order partner's loan is paid before return of capital. Keep partner loan and capital separate in exams.
Step 2
Why this answer is correct
The correct answer is A. पहले ऋण फिर पूंजी / Loan first then capital. In payment order partner's loan is paid before return of capital. Keep partner loan and capital separate in exams.
Step 3
Exam Tip
भुगतान क्रम में साझेदार का ऋण पूंजी वापसी से पहले चुकाया जाता है। परीक्षा में partner loan और capital अलग रखें।
After outside liabilities, partner loan is paid before capital. Remember loan priority in exams.
Step 2
Why this answer is correct
The correct answer is A. रुपये 12000 ऋण / ₹12000 loan. After outside liabilities, partner loan is paid before capital. Remember loan priority in exams.
Step 3
Exam Tip
बाहरी देनदारियों के बाद साझेदार ऋण पूंजी से पहले चुकाया जाता है। परीक्षा में loan priority याद रखें।
A. अंत में सभी पूंजी खाते भुगतान या वसूली से बंद हो जाएं/All capital accounts close by payment or recovery at the end
Step 1
Concept
After dissolution no balance should remain in capital accounts. Check accuracy through final closing entry in exams.
Step 2
Why this answer is correct
The correct answer is A. अंत में सभी पूंजी खाते भुगतान या वसूली से बंद हो जाएं / All capital accounts close by payment or recovery at the end. After dissolution no balance should remain in capital accounts. Check accuracy through final closing entry in exams.
Step 3
Exam Tip
विघटन पूरा होने पर पूंजी खातों में कोई शेष नहीं रहना चाहिए। परीक्षा में अंतिम closing entry से accuracy check करें।
