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Class 12 · Accountancy · Easy

If B's capital is fifty thousand rupees and drawings are eight thousand rupees, what will be the remaining capital under the fluctuating method?

Class 12 · Accountancy · Easy

If A’s capital is ₹40,000 and salary allowed to A is ₹3,000, what will be the capital under the fluctuating-capital method, assuming no other adjustment?

Class 12 · Accountancy · Easy

When commission is allowed to a partner, which side of that partner's account is affected?

Class 12 · Accountancy · Easy

How does a partner’s salary affect the partner’s account?

Class 12 · Accountancy · Easy

What effect does interest on drawings have on a partner's capital account?

Class 12 · Accountancy · Easy

What effect does interest on capital have on a partners capital?

Class 12 · Accountancy · Easy

If a partners current account shows debit balance what can it be for the firm?

Class 12 · Accountancy · Easy

If a partner's capital account shows a credit balance, what does it represent for the firm?

Class 12 · Accountancy · Easy

What is the correct accounting effect of recording drawings in the capital account?

Class 12 · Accountancy · Easy

What is the effect when a partner brings additional capital?

Class 12 · Accountancy · Easy

In which method is a partners current account more commonly used?

Class 12 · Accountancy · Easy

Under fluctuating capital method where are adjustments recorded even without a separate current account?

Class 12 · Accountancy · Easy

Why are partner drawings not recorded in capital account under fixed capital method?

Class 12 · Accountancy · Easy

What is the simplest indication of fluctuating capital method?

Class 12 · Accountancy · Easy

What is the simplest indication of the fixed capital method?

Class 12 · Accountancy · Easy

If share of profit is seven thousand rupees and drawings are three thousand rupees what is the net increase in fluctuating capital?

Class 12 · Accountancy · Easy

If interest on capital is two thousand rupees and interest on drawings is five hundred rupees what is the net effect on partner account?

Class 12 · Accountancy · Easy

If A capital is thirty five thousand and B capital is fifteen thousand what is total partners capital?

Class 12 · Accountancy · Easy

Why is a partners capital treated as liability for the firm?

Class 12 · Accountancy · Easy

Which rule applies when partners capital is credited in capital account?