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Class 12 · Accountancy · Medium
→If the partnership deed is silent about interest on drawings, will interest on drawings be charged?
Class 12 · Accountancy · Medium
→A’s drawings are Rs 15,000 and interest on drawings is Rs 1,200. What total debit will appear in A’s account?
Class 12 · Accountancy · Medium
→On which side of the Profit and Loss Appropriation Account is interest on drawings recorded?
Class 12 · Accountancy · Medium
→If interest on capital is to be allowed before distributing profit, which account will be debited?
Class 12 · Accountancy · Easy
→If interest on drawings of Rs 2,000 was omitted and A and B share profits equally, what is the net effect on A’s account?
Class 12 · Accountancy · Medium
→Under the fixed capital method, interest on capital was recorded in the Capital Account. In which account should it have been recorded?
Class 12 · Accountancy · Easy
→A total profit of Rs 10,000 was shared equally, but the correct ratio was 3:2. How much excess or shortfall did B have?
Class 12 · Accountancy · Easy
→If B has been paid an excess profit of ₹3,000, what adjustment will be made to B's account during the adjustment?
Class 12 · Accountancy · Easy
→If interest on drawings was omitted, what will happen in the concerned partner's account?
Class 12 · Accountancy · Easy
→What is the main purpose of adjustments in partnership accounts?
Class 12 · Accountancy · Medium
→Profit of Rs 2,10,000 was wrongly shared in the ratio 4:2:1 instead of the correct ratio 3:3:1. How much more will B receive on adjustment?
Class 12 · Accountancy · Hard
→Profit is Rs 3,80,000. After deducting A's salary of Rs 50,000, B is entitled to a 20% commission on the profit remaining after charging the commission. What is the commission?
Class 12 · Accountancy · Expert
→A, B and C share profits in the ratio 7 : 5 : 2. C's deficiency is Rs 21,000 which will be borne only by A and B in their profit ratio (7 : 5). How much will B bear?
Class 12 · Accountancy · Medium
→The firm guarantees C a minimum amount and must meet C's deficiency of Rs 20,000. What is the general effect on the final shares of A and B?
Class 12 · Accountancy · Medium
→Profit of Rs 1,50,000 was wrongly shared in the ratio 3:2:1 instead of the correct ratio 2:3:1. How much more will B receive on adjustment?
Class 12 · Accountancy · Hard
→A reserve of Rs 40,000 was wrongly credited although it should have been debited. By how much will the distributable profit be overstated?
Class 12 · Accountancy · Hard
→Partner salary of Rs 18,000 was wrongly credited to the Appropriation Account although it should have been debited. By how much will the remaining profit be overstated?
Class 12 · Accountancy · Hard
→Interest on drawings of Rs 11,000 was wrongly debited to the appropriation account. It should have been credited. By how much will distributable profit be understated?
Class 12 · Accountancy · Expert
→A receives 15% commission on profit after charging the commission. Profit before charging the commission is Rs 230000. What is the commission?
Class 12 · Accountancy · Expert
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