A. लाभ हानि विनियोजन खाता/Profit and Loss Appropriation Account
Step 1
Concept
Interest on capital is an appropriation of profit. Therefore it is debited to Profit and Loss Appropriation Account.
Step 2
Why this answer is correct
The correct answer is A. लाभ हानि विनियोजन खाता / Profit and Loss Appropriation Account. Interest on capital is an appropriation of profit. Therefore it is debited to Profit and Loss Appropriation Account.
Step 3
Exam Tip
पूँजी पर ब्याज लाभ का विनियोजन है। इसलिए इसे लाभ हानि विनियोजन खाते में डेबिट किया जाता है।
Interest on drawings is like income for the firm. Therefore it is credited to the appropriation account.
Step 2
Why this answer is correct
The correct answer is A. क्रेडिट पक्ष / Credit side. Interest on drawings is like income for the firm. Therefore it is credited to the appropriation account.
Step 3
Exam Tip
आहरण पर ब्याज फर्म के लिए आय जैसा है। इसलिए इसे विनियोजन खाते में क्रेडिट किया जाता है।
A mid year drawing carries interest for six months. Twelve percent on Rs 24000 for half year is Rs 1440.
Step 2
Why this answer is correct
The correct answer is A. रुपये 1440 / Rs 1440. A mid year drawing carries interest for six months. Twelve percent on Rs 24000 for half year is Rs 1440.
Step 3
Exam Tip
वर्ष के मध्य आहरण पर छह महीने का ब्याज लगेगा। रुपये 24000 पर बारह प्रतिशत आधे वर्ष के लिए रुपये 1440 है।
Under fixed capital method normal adjustments go to current account. This keeps capital account fixed.
Step 2
Why this answer is correct
The correct answer is A. साझेदार का चालू खाता / Partners Current Account. Under fixed capital method normal adjustments go to current account. This keeps capital account fixed.
Step 3
Exam Tip
स्थिर पूँजी पद्धति में सामान्य समायोजन चालू खाते में जाते हैं। इससे पूँजी खाता स्थिर रहता है।
Under fluctuating capital method profit share is recorded in capital account itself. A separate current account is generally not prepared.
Step 2
Why this answer is correct
The correct answer is A. साझेदार का पूँजी खाता / Partners Capital Account. Under fluctuating capital method profit share is recorded in capital account itself. A separate current account is generally not prepared.
Step 3
Exam Tip
चल पूँजी पद्धति में लाभ हिस्सा पूँजी खाते में ही दर्ज होता है। इस पद्धति में अलग चालू खाता सामान्यतः नहीं बनता।
Drawings and interest on drawings are both recoverable from the partner. Therefore total debit will be Rs 16200.
Step 2
Why this answer is correct
The correct answer is A. रुपये 16200 / Rs 16200. Drawings and interest on drawings are both recoverable from the partner. Therefore total debit will be Rs 16200.
Step 3
Exam Tip
आहरण और आहरण पर ब्याज दोनों साझेदार से वसूली योग्य हैं। इसलिए कुल डेबिट रुपये 16200 होगा।
A. पूँजी पर ब्याज नहीं दिया जाएगा/Interest on capital will not be allowed
Step 1
Concept
Interest on capital is allowed only when deed provides it. If deed is silent no such adjustment is made.
Step 2
Why this answer is correct
The correct answer is A. पूँजी पर ब्याज नहीं दिया जाएगा / Interest on capital will not be allowed. Interest on capital is allowed only when deed provides it. If deed is silent no such adjustment is made.
Step 3
Exam Tip
पूँजी पर ब्याज तभी दिया जाता है जब विलेख में प्रावधान हो। मौन विलेख में यह समायोजन नहीं किया जाता।
Interest on drawings is charged only when clearly provided. If the deed is silent it is not charged.
Step 2
Why this answer is correct
The correct answer is A. नहीं लगाया जाएगा / It will not be charged. Interest on drawings is charged only when clearly provided. If the deed is silent it is not charged.
Step 3
Exam Tip
आहरण पर ब्याज केवल स्पष्ट प्रावधान होने पर लगाया जाता है। विलेख मौन हो तो इसे नहीं लगाते।
Interest on drawings is added to net profit and interest on capital is deducted. Rs 90000 plus Rs 5000 minus Rs 20000 equals Rs 75000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 75000 / Rs 75000. Interest on drawings is added to net profit and interest on capital is deducted. Rs 90000 plus Rs 5000 minus Rs 20000 equals Rs 75000.
Step 3
Exam Tip
शुद्ध लाभ में आहरण पर ब्याज जोड़कर पूँजी पर ब्याज घटाया जाता है। रुपये 90000 जोड़ रुपये 5000 घटा रुपये 20000 बराबर रुपये 75000 है।
General reserve is an appropriation of profit. Therefore it is debited to the appropriation account.
Step 2
Why this answer is correct
The correct answer is A. डेबिट पक्ष में / On debit side. General reserve is an appropriation of profit. Therefore it is debited to the appropriation account.
Step 3
Exam Tip
सामान्य आरक्षित निधि लाभ का विनियोजन है। इसलिए इसे विनियोजन खाते में डेबिट किया जाता है।
Personal expense is a personal benefit of the partner. Therefore it is debited to his account like drawings.
Step 2
Why this answer is correct
The correct answer is A. आहरण जैसा डेबिट / Debit like drawings. Personal expense is a personal benefit of the partner. Therefore it is debited to his account like drawings.
Step 3
Exam Tip
निजी खर्च साझेदार का व्यक्तिगत लाभ है। इसलिए इसे उसके खाते में आहरण की तरह डेबिट किया जाता है।
A. साझेदार खाते में क्रेडिट/Credit partner account
Step 1
Concept
The partner paid an expense of the firm so the firm owes him. His account is credited.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में क्रेडिट / Credit partner account. The partner paid an expense of the firm so the firm owes him. His account is credited.
Step 3
Exam Tip
फर्म का खर्च साझेदार ने चुकाया है इसलिए फर्म पर उसकी राशि देय है। उसके खाते में क्रेडिट किया जाता है।
B paid firms expense from personal funds. Therefore Bs account will be credited by Rs 7000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 7000 क्रेडिट / Credit Rs 7000. B paid firms expense from personal funds. Therefore Bs account will be credited by Rs 7000.
Step 3
Exam Tip
फर्म का खर्च ब ने निजी धन से चुकाया है। इसलिए ब का खाता रुपये 7000 से क्रेडिट होगा।
A. सही हिस्सा और गलत हिस्सा/Correct share and wrong share
Step 1
Concept
In correction the difference between correct share and wrong share is calculated. Partners accounts are debited or credited by this difference.
Step 2
Why this answer is correct
The correct answer is A. सही हिस्सा और गलत हिस्सा / Correct share and wrong share. In correction the difference between correct share and wrong share is calculated. Partners accounts are debited or credited by this difference.
Step 3
Exam Tip
सुधार में सही हिस्से और पहले दिए गए गलत हिस्से का अंतर निकाला जाता है। इसी अंतर से साझेदारों के खाते डेबिट या क्रेडिट होते हैं।
A. बाँटने योग्य लाभ अधिक दिखेगा/Distributable profit will appear higher
Step 1
Concept
Partner salary is an appropriation deducted from profit. Omitting it makes remaining profit appear higher.
Step 2
Why this answer is correct
The correct answer is A. बाँटने योग्य लाभ अधिक दिखेगा / Distributable profit will appear higher. Partner salary is an appropriation deducted from profit. Omitting it makes remaining profit appear higher.
Step 3
Exam Tip
साझेदार वेतन लाभ से घटने वाली विनियोजन मद है। इसे छोड़ने से शेष लाभ अधिक दिखाई देता है।
Interest on drawings is a credit item and increases profit available. Omitting it makes distributable profit lower.
Step 2
Why this answer is correct
The correct answer is A. कम दिखाई देगा / It will appear lower. Interest on drawings is a credit item and increases profit available. Omitting it makes distributable profit lower.
Step 3
Exam Tip
आहरण पर ब्याज क्रेडिट मद है और लाभ बढ़ाता है। इसे छोड़ने से बाँटने योग्य लाभ कम दिखेगा।
A. शेष लाभ अधिक दिखेगा/Remaining profit will appear higher
Step 1
Concept
Interest on capital is a debit appropriation item. Omitting it makes remaining profit appear higher.
Step 2
Why this answer is correct
The correct answer is A. शेष लाभ अधिक दिखेगा / Remaining profit will appear higher. Interest on capital is a debit appropriation item. Omitting it makes remaining profit appear higher.
Step 3
Exam Tip
पूँजी पर ब्याज डेबिट विनियोजन मद है। इसे छोड़ने से शेष लाभ अधिक दिखाई देगा।
A. लाभ निकालने से पहले खर्च/Expense before calculating profit
Step 1
Concept
Interest on partners loan is an expense of the firm. It is recorded before net profit in Profit and Loss Account.
Step 2
Why this answer is correct
The correct answer is A. लाभ निकालने से पहले खर्च / Expense before calculating profit. Interest on partners loan is an expense of the firm. It is recorded before net profit in Profit and Loss Account.
Step 3
Exam Tip
साझेदार ऋण पर ब्याज फर्म का खर्च है। इसे लाभ हानि खाते में शुद्ध लाभ से पहले लिया जाता है।
A. शुद्ध लाभ रुपये 4000 घटेगा/Net profit will decrease by Rs 4000
Step 1
Concept
Interest on loan is an expense. Deducting it reduces correct net profit for appropriation.
Step 2
Why this answer is correct
The correct answer is A. शुद्ध लाभ रुपये 4000 घटेगा / Net profit will decrease by Rs 4000. Interest on loan is an expense. Deducting it reduces correct net profit for appropriation.
Step 3
Exam Tip
ऋण पर ब्याज खर्च है। इसे घटाने से विनियोजन के लिए सही शुद्ध लाभ कम होगा।
A. अ का आहरण या पूँजी खाता/As Drawings or Capital Account
Step 1
Concept
Taking goods for personal use is drawings. Therefore As account is debited.
Step 2
Why this answer is correct
The correct answer is A. अ का आहरण या पूँजी खाता / As Drawings or Capital Account. Taking goods for personal use is drawings. Therefore As account is debited.
Step 3
Exam Tip
निजी उपयोग के लिए माल लेना आहरण है। इसलिए अ के खाते को डेबिट किया जाता है।
Interest is on Rs 30000 for full year and Rs 10000 for six months. Total interest is Rs 3000 plus Rs 500 equal to Rs 3500.
Step 2
Why this answer is correct
The correct answer is A. रुपये 3500 / Rs 3500. Interest is on Rs 30000 for full year and Rs 10000 for six months. Total interest is Rs 3000 plus Rs 500 equal to Rs 3500.
Step 3
Exam Tip
रुपये 30000 पर पूरे वर्ष और रुपये 10000 पर छह महीने ब्याज लगेगा। कुल ब्याज रुपये 3000 जोड़ रुपये 500 बराबर रुपये 3500 है।
For equal monthly drawings at month end average period is five and half months. Interest on Rs 12000 at twelve percent is Rs 660.
Step 2
Why this answer is correct
The correct answer is A. रुपये 660 / Rs 660. For equal monthly drawings at month end average period is five and half months. Interest on Rs 12000 at twelve percent is Rs 660.
Step 3
Exam Tip
महीने के अंत में समान आहरण की औसत अवधि साढ़े पांच महीने होती है। कुल आहरण रुपये 12000 पर बारह प्रतिशत से ब्याज रुपये 660 है।
For monthly drawings at beginning average period is six and half months. Interest on Rs 24000 at ten percent is Rs 1300.
Step 2
Why this answer is correct
The correct answer is A. रुपये 1300 / Rs 1300. For monthly drawings at beginning average period is six and half months. Interest on Rs 24000 at ten percent is Rs 1300.
Step 3
Exam Tip
महीने की शुरुआत में औसत अवधि साढ़े छह महीने होती है। कुल आहरण रुपये 24000 पर दस प्रतिशत से ब्याज रुपये 1300 है।
Salary is a credit item and offsets opening debit. Rs 10000 minus Rs 3000 equals Rs 7000 credit.
Step 2
Why this answer is correct
The correct answer is A. रुपये 7000 क्रेडिट / Rs 7000 credit. Salary is a credit item and offsets opening debit. Rs 10000 minus Rs 3000 equals Rs 7000 credit.
Step 3
Exam Tip
वेतन क्रेडिट मद है और प्रारंभिक डेबिट को घटाता है। रुपये 10000 घटा रुपये 3000 बराबर रुपये 7000 क्रेडिट है।
Drawings are debit item and reduce credit balance. Rs 8000 minus Rs 5000 leaves Rs 3000 debit balance.
Step 2
Why this answer is correct
The correct answer is A. रुपये 3000 डेबिट / Rs 3000 debit. Drawings are debit item and reduce credit balance. Rs 8000 minus Rs 5000 leaves Rs 3000 debit balance.
Step 3
Exam Tip
आहरण डेबिट मद है और क्रेडिट शेष को घटाता है। रुपये 8000 में से रुपये 5000 घटाने पर रुपये 3000 डेबिट शेष रहता है।
Under fluctuating capital profit is added and drawings are deducted. Rs 70000 plus Rs 15000 minus Rs 9000 equals Rs 76000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 76000 / Rs 76000. Under fluctuating capital profit is added and drawings are deducted. Rs 70000 plus Rs 15000 minus Rs 9000 equals Rs 76000.
Step 3
Exam Tip
चल पूँजी में लाभ जोड़ा और आहरण घटाया जाता है। रुपये 70000 जोड़ रुपये 15000 घटा रुपये 9000 बराबर रुपये 76000 है।
Interest on drawings is charged from the partner. Therefore it should be debited to partners account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में डेबिट / Debit partners account. Interest on drawings is charged from the partner. Therefore it should be debited to partners account.
Step 3
Exam Tip
आहरण पर ब्याज साझेदार से वसूला जाता है। इसलिए इसे साझेदार खाते में डेबिट किया जाना चाहिए।
A. साझेदार खाते में क्रेडिट/Credit partners account
Step 1
Concept
Interest on capital is payable to partner. Therefore partners account should be credited.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में क्रेडिट / Credit partners account. Interest on capital is payable to partner. Therefore partners account should be credited.
Step 3
Exam Tip
पूँजी पर ब्याज साझेदार को देय राशि है। इसलिए साझेदार खाते में क्रेडिट होना चाहिए।
Deficiency is the difference between guarantee and normal share. Rs 25000 minus Rs 21000 equals Rs 4000.
Step 2
Why this answer is correct
The correct answer is A. रुपये 4000 / Rs 4000. Deficiency is the difference between guarantee and normal share. Rs 25000 minus Rs 21000 equals Rs 4000.
Step 3
Exam Tip
कमी गारंटी और सामान्य हिस्से का अंतर है। रुपये 25000 घटा रुपये 21000 बराबर रुपये 4000 है।
The guaranteeing partner bears the deficiency. Therefore Bs deficiency is deducted from As profit share.
Step 2
Why this answer is correct
The correct answer is A. अ के खाते से / From As account. The guaranteeing partner bears the deficiency. Therefore Bs deficiency is deducted from As profit share.
Step 3
Exam Tip
गारंटी देने वाला साझेदार कमी वहन करता है। इसलिए ब की कमी अ के लाभ हिस्से से घटेगी।
Furniture becomes firms asset and partners capital increases. Therefore partners capital account is credited.
Step 2
Why this answer is correct
The correct answer is A. साझेदार का पूँजी खाता / Partners Capital Account. Furniture becomes firms asset and partners capital increases. Therefore partners capital account is credited.
Step 3
Exam Tip
फर्नीचर फर्म की संपत्ति बनता है और साझेदार की पूँजी बढ़ती है। इसलिए साझेदार का पूँजी खाता क्रेडिट होता है।
A. अ के पूँजी या चालू खाते में क्रेडिट/Credit in As capital or current account
Step 1
Concept
Partner salary has double effect. It is debited to appropriation account and credited to partner account.
Step 2
Why this answer is correct
The correct answer is A. अ के पूँजी या चालू खाते में क्रेडिट / Credit in As capital or current account. Partner salary has double effect. It is debited to appropriation account and credited to partner account.
Step 3
Exam Tip
साझेदार वेतन का दोहरा प्रभाव होता है। विनियोजन खाते में डेबिट और साझेदार खाते में क्रेडिट किया जाता है।
A. साझेदार खाते में डेबिट/Debit in partner account
Step 1
Concept
Interest on drawings is recoverable from partner. Therefore it is debited to partner account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में डेबिट / Debit in partner account. Interest on drawings is recoverable from partner. Therefore it is debited to partner account.
Step 3
Exam Tip
आहरण पर ब्याज साझेदार से वसूली है। इसलिए साझेदार खाते में डेबिट होता है।
A. साझेदार खाते में क्रेडिट/Credit in partner account
Step 1
Concept
Interest on capital is payable to partner. Therefore it is credited to partner account.
Step 2
Why this answer is correct
The correct answer is A. साझेदार खाते में क्रेडिट / Credit in partner account. Interest on capital is payable to partner. Therefore it is credited to partner account.
Step 3
Exam Tip
पूँजी पर ब्याज साझेदार को देय होता है। इसलिए साझेदार के खाते में क्रेडिट किया जाता है।
Recording on wrong side misses correct effect and adds opposite effect. So the difference is generally double the amount.
Step 2
Why this answer is correct
The correct answer is A. राशि का दोगुना / Double the amount. Recording on wrong side misses correct effect and adds opposite effect. So the difference is generally double the amount.
Step 3
Exam Tip
गलत पक्ष में लिखने से एक बार सही प्रभाव छूटता है और उल्टा प्रभाव जुड़ता है। इसलिए अंतर सामान्यतः दोगुना होता है।
A. खाता पद्धति और समायोजन का सही पक्ष/Method of account and correct side of adjustment
Step 1
Concept
The account changes according to fixed or fluctuating capital method. Identifying correct side reduces debit credit errors.
Step 2
Why this answer is correct
The correct answer is A. खाता पद्धति और समायोजन का सही पक्ष / Method of account and correct side of adjustment. The account changes according to fixed or fluctuating capital method. Identifying correct side reduces debit credit errors.
Step 3
Exam Tip
स्थिर या चल पूँजी पद्धति से खाता बदलता है। सही पक्ष पहचानने से डेबिट क्रेडिट की गलती कम होती है।
A. हर समायोजन का दोहरा प्रभाव और शेष लाभ का अनुपात मिलाएँ/Match double effect of every adjustment and ratio of remaining profit
Step 1
Concept
Every adjustment has one debit and one credit effect. Finally remaining profit or loss must be shared in correct ratio.
Step 2
Why this answer is correct
The correct answer is A. हर समायोजन का दोहरा प्रभाव और शेष लाभ का अनुपात मिलाएँ / Match double effect of every adjustment and ratio of remaining profit. Every adjustment has one debit and one credit effect. Finally remaining profit or loss must be shared in correct ratio.
Step 3
Exam Tip
हर समायोजन का एक डेबिट और एक क्रेडिट प्रभाव होता है। अंत में शेष लाभ या हानि सही अनुपात में बाँटी जानी चाहिए।
A. अ के खाते में रुपये 9000 क्रेडिट/Credit Rs 9000 to As account
Step 1
Concept
A paid a firm expense from personal funds so the firm owes him that amount. In such adjustment credit the partners account.
Step 2
Why this answer is correct
The correct answer is A. अ के खाते में रुपये 9000 क्रेडिट / Credit Rs 9000 to As account. A paid a firm expense from personal funds so the firm owes him that amount. In such adjustment credit the partners account.
Step 3
Exam Tip
फर्म का खर्च अ ने निजी धन से चुकाया है इसलिए फर्म पर अ की राशि देय है। ऐसे समायोजन में साझेदार के खाते को क्रेडिट करें।
