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Class 12 · Accountancy · Easy

Under fluctuating capital method, profit share is credited to which account?

Class 12 · Accountancy · Easy

Under fixed capital method, when does a partners capital usually change?

Class 12 · Accountancy · Easy

In partnership, whose capital is recorded in a capital account?

Class 12 · Accountancy · Easy

What is the main purpose of capital account?

Class 12 · Accountancy · Easy

If a partner's share of loss is not recorded in the books, how will his/her capital account be affected?

Class 12 · Accountancy · Easy

If a partner's share of profit is not recorded, how will the partner's account be affected?

Class 12 · Accountancy · Easy

If drawings are not recorded, how will a partner's capital appear?

Class 12 · Accountancy · Easy

If the entry for interest on capital is omitted, how will the partners' capitals appear in the accounts?

Class 12 · Accountancy · Easy

If three partners capitals are ten thousand fifteen thousand and twenty five thousand rupees what is total capital?

Class 12 · Accountancy · Easy

A and B’s capitals are in the ratio 4:1. If A’s capital is ₹40,000, what will be B’s capital?

Class 12 · Accountancy · Easy

If total capital of two partners is eighty thousand rupees and A capital is forty five thousand rupees what is B capital?

Class 12 · Accountancy · Easy

Why are names like A B or C written with capital accounts?

Class 12 · Accountancy · Easy

If closing balance of current account is debit on which side will it appear next year?

Class 12 · Accountancy · Easy

If closing balance of capital account is credit where will it be brought next year?

Class 12 · Accountancy · Easy

What does writing closing balance on debit side while preparing capital account mean?

Class 12 · Accountancy · Easy

If a separate drawings account is prepared where is it transferred at year end?

Class 12 · Accountancy · Easy

If a partner is to be allowed interest on capital of Rs. 800, how will it be recorded in the partner's account?

Class 12 · Accountancy · Easy

If the interest on drawings is ₹600, how will it be recorded in the partner's account?

Class 12 · Accountancy · Easy

If interest on capital is one thousand rupees and share of loss is three thousand rupees what is the net effect on capital?

Class 12 · Accountancy · Easy

If C’s share of profit is ₹12,000 and drawings are ₹5,000, what is the net increase in C’s capital, assuming no other adjustment?