A. अवकाशग्रहण साझेदार ऋण खाता/Retiring partner loan account
Step 1
Concept
If the amount due is not paid immediately it is kept as a loan. Therefore retiring partner loan account is opened.
Step 2
Why this answer is correct
The correct answer is A. अवकाशग्रहण साझेदार ऋण खाता / Retiring partner loan account. If the amount due is not paid immediately it is kept as a loan. Therefore retiring partner loan account is opened.
Step 3
Exam Tip
देय राशि तुरंत न चुकाने पर उसे ऋण के रूप में रखा जाता है। इसलिए अवकाशग्रहण साझेदार ऋण खाता खोला जाता है।
The amount due to the retiring partner is a liability of the firm. Hence it appears on the liabilities side of the balance sheet.
Step 2
Why this answer is correct
The correct answer is A. देनदारी पक्ष / Liabilities side. The amount due to the retiring partner is a liability of the firm. Hence it appears on the liabilities side of the balance sheet.
Step 3
Exam Tip
अवकाशग्रहण साझेदार की देय राशि फर्म पर देनदारी होती है। इसलिए यह बैलेंस शीट के देनदारी पक्ष में दिखती है।
A. अवकाशग्रहण साझेदार पूंजी खाता नामे और अवकाशग्रहण साझेदार ऋण खाता जमा/Retiring partner capital debit and retiring partner loan credit
Step 1
Concept
When the capital amount due is converted into loan the capital account is debited and loan account is credited. It becomes a liability of the firm.
Step 2
Why this answer is correct
The correct answer is A. अवकाशग्रहण साझेदार पूंजी खाता नामे और अवकाशग्रहण साझेदार ऋण खाता जमा / Retiring partner capital debit and retiring partner loan credit. When the capital amount due is converted into loan the capital account is debited and loan account is credited. It becomes a liability of the firm.
Step 3
Exam Tip
पूंजी खाते की देय राशि को ऋण में बदलते समय पूंजी खाता नामे और ऋण खाता जमा होता है। यह फर्म की देनदारी बनती है।
A. ऋण पर ब्याज खाता नामे और अवकाशग्रहण साझेदार ऋण खाता जमा/Interest on loan debit and retiring partner loan credit
Step 1
Concept
Interest is an expense for the firm and income credited to the partner loan account. Hence interest expense is debited and loan account is credited.
Step 2
Why this answer is correct
The correct answer is A. ऋण पर ब्याज खाता नामे और अवकाशग्रहण साझेदार ऋण खाता जमा / Interest on loan debit and retiring partner loan credit. Interest is an expense for the firm and income credited to the partner loan account. Hence interest expense is debited and loan account is credited.
Step 3
Exam Tip
ब्याज फर्म का खर्च और साझेदार के ऋण खाते की आय है। इसलिए ब्याज खर्च नामे और ऋण खाता जमा होगा।
A. अवकाशग्रहण साझेदार ऋण खाता/Retiring partner loan account
Step 1
Concept
When an installment is paid the liability of the firm decreases. Therefore retiring partner loan account is debited and bank account is credited.
Step 2
Why this answer is correct
The correct answer is A. अवकाशग्रहण साझेदार ऋण खाता / Retiring partner loan account. When an installment is paid the liability of the firm decreases. Therefore retiring partner loan account is debited and bank account is credited.
Step 3
Exam Tip
किस्त चुकाने पर फर्म की देनदारी घटती है। इसलिए अवकाशग्रहण साझेदार ऋण खाता नामे और बैंक खाता जमा होगा।
After deducting immediate payment the balance is transferred to loan account. Therefore (80000-30000=50000) becomes loan.
Step 2
Why this answer is correct
The correct answer is A. ₹50000. After deducting immediate payment the balance is transferred to loan account. Therefore (80000-30000=50000) becomes loan.
Step 3
Exam Tip
तुरंत भुगतान घटाने के बाद शेष राशि ऋण खाते में जाती है। इसलिए (80000-30000=50000) ऋण बनेगा।
A. पूंजी खाता साझेदारी अधिकार दिखाता है और ऋण खाता भुगतान योग्य देनदारी दिखाता है/Capital account shows partnership right and loan account shows payable liability
Step 1
Concept
After retirement the partner capital entitlement may become a payable loan. The loan account is a liability of the firm.
Step 2
Why this answer is correct
The correct answer is A. पूंजी खाता साझेदारी अधिकार दिखाता है और ऋण खाता भुगतान योग्य देनदारी दिखाता है / Capital account shows partnership right and loan account shows payable liability. After retirement the partner capital entitlement may become a payable loan. The loan account is a liability of the firm.
Step 3
Exam Tip
अवकाशग्रहण के बाद साझेदार का पूंजी अधिकार समाप्त होकर देय ऋण बन सकता है। ऋण खाता फर्म की देनदारी है।
The amount due to a deceased partner is payable to his executor. If unpaid it is kept in executor loan account.
Step 2
Why this answer is correct
The correct answer is A. उत्तराधिकारी ऋण खाता / Executor loan account. The amount due to a deceased partner is payable to his executor. If unpaid it is kept in executor loan account.
Step 3
Exam Tip
मृत साझेदार की देय राशि उसके उत्तराधिकारी को देय होती है। भुगतान न होने पर इसे उत्तराधिकारी ऋण खाता में रखा जाता है।
A. मृत साझेदार पूंजी खाता नामे और उत्तराधिकारी ऋण खाता जमा/Deceased partner capital debit and executor loan credit
Step 1
Concept
The amount due in deceased partner capital account is transferred to executor loan. Therefore capital account is debited and executor loan account is credited.
Step 2
Why this answer is correct
The correct answer is A. मृत साझेदार पूंजी खाता नामे और उत्तराधिकारी ऋण खाता जमा / Deceased partner capital debit and executor loan credit. The amount due in deceased partner capital account is transferred to executor loan. Therefore capital account is debited and executor loan account is credited.
Step 3
Exam Tip
मृत साझेदार के पूंजी खाते की देय राशि उत्तराधिकारी ऋण में बदली जाती है। इसलिए पूंजी खाता नामे और उत्तराधिकारी ऋण खाता जमा होगा।
For loan advanced by a partner to the firm the general rule is 6 percent per annum. In exams use this when no agreement is given.
Step 2
Why this answer is correct
The correct answer is A. 6 प्रतिशत वार्षिक / 6 percent per annum. For loan advanced by a partner to the firm the general rule is 6 percent per annum. In exams use this when no agreement is given.
Step 3
Exam Tip
साझेदार द्वारा फर्म को दिए गए ऋण पर सामान्य नियम 6 प्रतिशत वार्षिक माना जाता है। परीक्षा में समझौता न हो तो यही दर उपयोगी होती है।
Interest on loan is an expense payable by the firm. It is treated separately from profit appropriation.
Step 2
Why this answer is correct
The correct answer is A. लाभ से पहले देय खर्च / Charge against profit. Interest on loan is an expense payable by the firm. It is treated separately from profit appropriation.
Step 3
Exam Tip
ऋण पर ब्याज फर्म के लिए देय खर्च होता है। इसे लाभ होने या न होने से अलग खर्च माना जाता है।
A. जब पूरा ऋण और देय ब्याज चुका दिया जाए/When full loan and due interest are paid
Step 1
Concept
Loan account shows a liability. It is closed when the full principal and interest due are paid.
Step 2
Why this answer is correct
The correct answer is A. जब पूरा ऋण और देय ब्याज चुका दिया जाए / When full loan and due interest are paid. Loan account shows a liability. It is closed when the full principal and interest due are paid.
Step 3
Exam Tip
ऋण खाता देनदारी दिखाता है। पूरी मूल राशि और ब्याज चुकाने पर यह बंद हो जाता है।
A. जब भुगतान तुरंत पूरा नहीं किया जाता/When full payment is not made immediately
Step 1
Concept
If full payment is not made immediately the amount due becomes a loan. It is recorded as a liability of the firm.
Step 2
Why this answer is correct
The correct answer is A. जब भुगतान तुरंत पूरा नहीं किया जाता / When full payment is not made immediately. If full payment is not made immediately the amount due becomes a loan. It is recorded as a liability of the firm.
Step 3
Exam Tip
पूर्ण भुगतान तुरंत न हो तो देय राशि ऋण बन जाती है। यह फर्म की देनदारी के रूप में दर्ज होती है।
A. फर्म की अवकाशग्रहण साझेदार के प्रति देनदारी/Firm liability to retiring partner
Step 1
Concept
A credit balance in loan account shows that the firm still has to pay. Therefore it is a liability.
Step 2
Why this answer is correct
The correct answer is A. फर्म की अवकाशग्रहण साझेदार के प्रति देनदारी / Firm liability to retiring partner. A credit balance in loan account shows that the firm still has to pay. Therefore it is a liability.
Step 3
Exam Tip
ऋण खाते का जमा शेष बताता है कि फर्म को अभी भुगतान करना है। इसलिए यह देनदारी है।
A. बैंक खाता जमा होगा/Bank account will be credited
Step 1
Concept
Payment of installment shows cash going out through bank. Therefore bank account is credited.
Step 2
Why this answer is correct
The correct answer is A. बैंक खाता जमा होगा / Bank account will be credited. Payment of installment shows cash going out through bank. Therefore bank account is credited.
Step 3
Exam Tip
किस्त भुगतान बैंक से नकद निकलना दिखाता है। इसलिए बैंक खाता जमा किया जाता है।
Interest on loan is an expense of the firm. Therefore it may be transferred to profit and loss account.
Step 2
Why this answer is correct
The correct answer is A. लाभ हानि खाता / Profit and loss account. Interest on loan is an expense of the firm. Therefore it may be transferred to profit and loss account.
Step 3
Exam Tip
ऋण पर ब्याज फर्म का खर्च है। इसलिए इसे लाभ हानि खाते में स्थानांतरित किया जा सकता है।
A. दोनों फर्म की देनदारी हैं/Both are liabilities of the firm
Step 1
Concept
The retiring partner becomes similar to a lender. Therefore his loan appears like an external liability.
Step 2
Why this answer is correct
The correct answer is A. दोनों फर्म की देनदारी हैं / Both are liabilities of the firm. The retiring partner becomes similar to a lender. Therefore his loan appears like an external liability.
Step 3
Exam Tip
अवकाशग्रहण साझेदार अब ऋणदाता जैसा बन जाता है। इसलिए उसका ऋण बाहरी देनदारी की तरह दिखता है।
A. क्योंकि उसकी देय राशि फर्म में ऋण के रूप में रहती है/Because his amount due remains in the firm as loan
Step 1
Concept
After retirement he no longer shares profits and losses. The unpaid amount remains as loan liability of the firm.
Step 2
Why this answer is correct
The correct answer is A. क्योंकि उसकी देय राशि फर्म में ऋण के रूप में रहती है / Because his amount due remains in the firm as loan. After retirement he no longer shares profits and losses. The unpaid amount remains as loan liability of the firm.
Step 3
Exam Tip
अवकाशग्रहण के बाद वह लाभ हानि का साझेदार नहीं रहता। unpaid राशि ऋण बनकर फर्म पर देनदारी रहती है।
Interest increases the amount payable to the partner. Therefore it is recorded on the credit side of the loan account.
Step 2
Why this answer is correct
The correct answer is A. जमा पक्ष / Credit side. Interest increases the amount payable to the partner. Therefore it is recorded on the credit side of the loan account.
Step 3
Exam Tip
ब्याज से साझेदार को देय राशि बढ़ती है। इसलिए ऋण खाते में ब्याज जमा पक्ष में लिखा जाता है।
The amount due transferred from capital creates the loan account. Therefore it appears on the credit side of the loan account.
Step 2
Why this answer is correct
The correct answer is A. जमा पक्ष / Credit side. The amount due transferred from capital creates the loan account. Therefore it appears on the credit side of the loan account.
Step 3
Exam Tip
पूंजी खाते से स्थानांतरित देय राशि ऋण खाते को बनाती है। इसलिए यह ऋण खाते के जमा पक्ष में आती है।
For installment payment the amount due is kept in a loan account. In case of death it is executor loan account.
Step 2
Why this answer is correct
The correct answer is A. उत्तराधिकारी ऋण खाता / Executor loan account. For installment payment the amount due is kept in a loan account. In case of death it is executor loan account.
Step 3
Exam Tip
किस्तों में भुगतान के लिए देय राशि को ऋण खाते में रखा जाता है। मृत साझेदार के मामले में यह उत्तराधिकारी ऋण खाता होता है।
A. समय के अनुसार बकाया ऋण पर/On outstanding loan according to time
Step 1
Concept
Interest is based on outstanding loan and time period. The outstanding amount may change after installments.
Step 2
Why this answer is correct
The correct answer is A. समय के अनुसार बकाया ऋण पर / On outstanding loan according to time. Interest is based on outstanding loan and time period. The outstanding amount may change after installments.
Step 3
Exam Tip
ब्याज बकाया ऋण और समय अवधि पर आधारित होता है। किस्त के बाद बकाया बदल सकता है।
For the first six months full ₹100000 was outstanding. Interest is \(100000 \times \frac{6}{100} \times \frac{6}{12}=3000\).
Step 2
Why this answer is correct
The correct answer is A. ₹3000. For the first six months full ₹100000 was outstanding. Interest is \(100000 \times \frac{6}{100} \times \frac{6}{12}=3000\).
Step 3
Exam Tip
पहले छह माह तक पूरा ₹100000 बकाया था। ब्याज \(100000 \times \frac{6}{100} \times \frac{6}{12}=3000\) होगा।
After principal payment of ₹40000 the outstanding loan is ₹60000. Interest for the next period will be charged on this balance.
Step 2
Why this answer is correct
The correct answer is A. ₹60000. After principal payment of ₹40000 the outstanding loan is ₹60000. Interest for the next period will be charged on this balance.
Step 3
Exam Tip
₹40000 मूलधन भुगतान के बाद बकाया ऋण ₹60000 रहता है। अगले समय का ब्याज इसी बकाया पर लगेगा।
A. ब्याज ऋण खाते में जमा होकर देय राशि बढ़ाएगा/Interest will be credited to loan account and increase amount due
Step 1
Concept
Unpaid interest remains payable to the partner. Therefore it is credited to loan account and increases liability.
Step 2
Why this answer is correct
The correct answer is A. ब्याज ऋण खाते में जमा होकर देय राशि बढ़ाएगा / Interest will be credited to loan account and increase amount due. Unpaid interest remains payable to the partner. Therefore it is credited to loan account and increases liability.
Step 3
Exam Tip
देय ब्याज न चुकाने पर भी साझेदार को देय रहता है। इसलिए इसे ऋण खाते में जमा करके देनदारी बढ़ाई जाती है।
A. जब साझेदार को देय राशि बढ़ती है/When amount payable to partner increases
Step 1
Concept
In personal account the receiver is debited and giver is credited as applicable. When amount payable increases the loan account is credited.
Step 2
Why this answer is correct
The correct answer is A. जब साझेदार को देय राशि बढ़ती है / When amount payable to partner increases. In personal account the receiver is debited and giver is credited as applicable. When amount payable increases the loan account is credited.
Step 3
Exam Tip
व्यक्तिगत खाते में पाने वाले को जमा किया जाता है। देय राशि बढ़ने पर ऋण खाता जमा होगा।
A. जमा पक्ष में देय राशि और ब्याज जोड़कर नामे भुगतान घटाते हैं/Add amount due and interest on credit side then deduct debit payments
Step 1
Concept
In loan account credit side increases amount payable and debit side reduces it through payments. The credit balance shows liability.
Step 2
Why this answer is correct
The correct answer is A. जमा पक्ष में देय राशि और ब्याज जोड़कर नामे भुगतान घटाते हैं / Add amount due and interest on credit side then deduct debit payments. In loan account credit side increases amount payable and debit side reduces it through payments. The credit balance shows liability.
Step 3
Exam Tip
ऋण खाते में जमा पक्ष देय राशि बढ़ाता है और नामे पक्ष भुगतान घटाता है। शेष जमा देनदारी दिखाता है।
A. अवकाशग्रहण साझेदार की अंतिम देय राशि निकालने के बाद/After calculating final amount due to retiring partner
Step 1
Concept
First all adjustments are made in capital account. The loan account is opened only after finding the final amount due.
Step 2
Why this answer is correct
The correct answer is A. अवकाशग्रहण साझेदार की अंतिम देय राशि निकालने के बाद / After calculating final amount due to retiring partner. First all adjustments are made in capital account. The loan account is opened only after finding the final amount due.
Step 3
Exam Tip
पहले पूंजी खाते में सभी समायोजन किए जाते हैं। अंतिम देय राशि निकालकर ही ऋण खाता खोला जाता है।
A. पूंजी खाता बंद हो जाता है/Capital account gets closed
Step 1
Concept
When amount due is transferred to loan account the balance of capital account is cleared. Therefore capital account is closed.
Step 2
Why this answer is correct
The correct answer is A. पूंजी खाता बंद हो जाता है / Capital account gets closed. When amount due is transferred to loan account the balance of capital account is cleared. Therefore capital account is closed.
Step 3
Exam Tip
देय राशि ऋण खाते में स्थानांतरित होने पर पूंजी खाते का शेष समाप्त हो जाता है। इसलिए पूंजी खाता बंद हो जाता है।
A. यह unpaid देय राशि को स्पष्ट देनदारी के रूप में दिखाता है/It shows unpaid amount due as a clear liability
Step 1
Concept
The loan account shows how much the firm still has to pay. It separates settlement from actual payment.
Step 2
Why this answer is correct
The correct answer is A. यह unpaid देय राशि को स्पष्ट देनदारी के रूप में दिखाता है / It shows unpaid amount due as a clear liability. The loan account shows how much the firm still has to pay. It separates settlement from actual payment.
Step 3
Exam Tip
ऋण खाता बताता है कि फर्म को अभी कितनी राशि देनी है। इससे निपटान और भुगतान अलग अलग स्पष्ट होते हैं।
If the installment is stated as ₹20000 the bank payment entry is for that amount. Interest may be credited separately to the loan account.
Step 2
Why this answer is correct
The correct answer is A. ₹20000. If the installment is stated as ₹20000 the bank payment entry is for that amount. Interest may be credited separately to the loan account.
Step 3
Exam Tip
यदि किस्त ₹20000 बताई गई है तो बैंक भुगतान उसी राशि का होगा। ब्याज अलग से ऋण खाते में जमा हो सकता है।
A. पहले से चुकाई गई राशि पर/On amount already paid
Step 1
Concept
Interest is charged only on outstanding amount. Amount already paid does not earn further interest.
Step 2
Why this answer is correct
The correct answer is A. पहले से चुकाई गई राशि पर / On amount already paid. Interest is charged only on outstanding amount. Amount already paid does not earn further interest.
Step 3
Exam Tip
ब्याज केवल बकाया राशि पर लगता है। जो राशि चुकाई जा चुकी है उस पर आगे ब्याज नहीं लगता।
After principal payment of ₹30000 outstanding balance becomes ₹90000. Interest for next 9 months is charged on this amount.
Step 2
Why this answer is correct
The correct answer is A. ₹90000. After principal payment of ₹30000 outstanding balance becomes ₹90000. Interest for next 9 months is charged on this amount.
Step 3
Exam Tip
₹30000 मूलधन भुगतान के बाद बकाया ₹90000 रह जाता है। अगले 9 माह के लिए ब्याज इसी पर लगेगा।
A. ऋण मूलधन नहीं बदलेगा/Loan principal will not change
Step 1
Concept
Interest credit increases amount payable and payment of the same interest reduces it. Therefore there is no net effect on principal loan.
Step 2
Why this answer is correct
The correct answer is A. ऋण मूलधन नहीं बदलेगा / Loan principal will not change. Interest credit increases amount payable and payment of the same interest reduces it. Therefore there is no net effect on principal loan.
Step 3
Exam Tip
ब्याज जमा होने से देय राशि बढ़ती है और उसी ब्याज का भुगतान घटा देता है। इसलिए मूल ऋण पर शुद्ध प्रभाव नहीं पड़ता।
A. सभी देय राशि चुका दी गई/All dues have been paid
Step 1
Concept
Zero balance shows that loan liability has ended. It means full payment has been made.
Step 2
Why this answer is correct
The correct answer is A. सभी देय राशि चुका दी गई / All dues have been paid. Zero balance shows that loan liability has ended. It means full payment has been made.
Step 3
Exam Tip
शून्य शेष बताता है कि ऋण की देनदारी समाप्त हो गई। इसका अर्थ पूरा भुगतान हो चुका है।
