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Class 12 · Accountancy · Easy
→If a partner gives goods to the firm as capital, what is the effect on the capital account?
Class 12 · Accountancy · Easy
→Bringing additional capital into a partner’s capital account is what type of entry?
Class 12 · Accountancy · Easy
→If a partner’s current account shows a credit balance, what is its simple meaning?
Class 12 · Accountancy · Easy
→If a partner’s current account shows a debit balance, what does it generally mean?
Class 12 · Accountancy · Easy
→What does the closing balance of a partner’s capital account represent?
Class 12 · Accountancy · Easy
→If a partner gives a loan to the firm, should it be merged with the capital account or shown separately?
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 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?
Class 12 · Accountancy · Easy
→If a partner makes drawings in cash, which account is debited?
Class 12 · Accountancy · Easy
→Where is a partner’s capital normally shown in the balance sheet?
Class 12 · Accountancy · Easy
→What is the main difference between the capital account and the current account under the fixed-capital method?
Class 12 · Accountancy · Easy
→How is the closing balance of a partner’s capital account determined?
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
→How does a partner’s salary affect the partner’s account?
Class 12 · Accountancy · Easy
→What is the balance obtained after closing a partner’s Capital Account called?
Class 12 · Accountancy · Easy
→Under the fixed capital method, to which account is interest on drawings debited?
Class 12 · Accountancy · Easy
→Under the fixed capital method, to which account is a partner’s share of profit credited?
Class 12 · Accountancy · Easy
→At the end of the year, to which account is a partner’s Drawings Account generally closed?
Class 12 · Accountancy · Easy
→Two partners have equal capitals. If A's capital is ₹20,000, what will B's capital be?
Class 12 · Accountancy · Easy
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