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Class 12 · Accountancy
→An executor’s Loan Account has a balance of ₹140,000. If ₹56,000 is paid and ₹8,400 interest is credited, what is the final balance?
Class 12 · Accountancy
→A payment of ₹50,000 includes ₹8,000 as interest. By how much will the loan principal decrease?
Class 12 · Accountancy
→₹275,000 is due to a retiring partner, and ₹75,000 is paid immediately. How much will be transferred to the partner’s Loan Account?
Class 12 · Accountancy
→In the journal entry for interest due on a retiring partner’s loan, which account is debited?
Class 12 · Accountancy
→If part of the amount due to a retiring partner is settled by giving goods, what precaution is needed in the loan account?
Class 12 · Accountancy
→Interest due was added to a retiring partner's loan account and only the interest was paid through bank. What is the effect on principal?
Class 12 · Accountancy
→In which circumstance will the loan account amount be equal to the retiring partner's final capital balance?
Class 12 · Accountancy
→The agreement states that interest on a loan will be charged only up to the date of final payment. What does this practically mean?
Class 12 · Accountancy
→Which option gives the correct difference between loan interest and principal repayment?
Class 12 · Accountancy
→A loan account has an initial credit of ₹320000. During the year, a principal payment of ₹75000 is made and interest of ₹12000 is credited at year-end. What is the final balance?
Class 12 · Accountancy
→If, after adding interest to a retiring partner's loan account, the bank payment equals only the principal, what will the balance represent?
Class 12 · Accountancy
→How will the interest period on a loan be determined when retirement occurs during the year?
Class 12 · Accountancy
→If a deceased partner's executor loan account has ₹78000 credit balance and ₹4680 interest, what liability will be shown in the balance sheet if no payment is made?
Class 12 · Accountancy
→In a ₹90000 loan ₹20000 principal is paid after 7 months. On what amount will interest be charged for next 5 months?
Class 12 · Accountancy
→If the agreement clearly gives the interest rate on the loan, which rate will apply?
Class 12 · Accountancy
→What type of liability does a retiring partner's loan account represent?
Class 12 · Accountancy
→Where will the balance of a retiring partner's loan account appear in the balance sheet?
Class 12 · Accountancy
→If ₹76000 is due to a retiring partner and ₹26000 is paid immediately, how much will go to the loan account?
Class 12 · Accountancy
→What is the effect of recording payment in a retiring partner's loan account?
Class 12 · Accountancy
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