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Class 12 · Accountancy · Easy
→Why is a stable customer base important for goodwill?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 3:2. Profit of ₹1,25,000 included unrealised income of ₹25,000. By how much will A’s profit share decrease after correction?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 2:1. Correct interest on capital was ₹18,000 and ₹12,000, but it was wrongly allowed as ₹20,000 and ₹10,000. What will happen in rectification?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Income of ₹20,000 belonging to the firm was wrongly credited directly to A’s capital account. How much will B gain on rectification?
Class 12 · Accountancy · Hard
→A, B and C share profits in the ratio 3:2:1. C’s salary of ₹24,000 was omitted, although profit had already been distributed. How much will be debited to A’s account in the adjustment?
Class 12 · Accountancy · Hard
→Partner A is to receive commission at 12% of profit after charging such commission. Profit before commission is ₹1,12,000. What is the commission?
Class 12 · Accountancy · Hard
→If profit is insufficient and the deed states that salary is allowed first and interest on capital second, what order should be followed?
Class 12 · Accountancy · Medium
→If the partnership deed is silent, can a partner be allowed a salary?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Income of ₹15,000 was omitted from the recorded profit of ₹1,00,000. By how much will B’s share increase on rectification?
Class 12 · Accountancy · Hard
→If interest on drawings was wrongly credited to a partner’s account when it should have been debited, what entry is required for rectification?
Class 12 · Accountancy · Hard
→A and B share profits equally. B gave the firm a loan of ₹1,00,000 on 1 April. The deed provides interest on the loan at 9% per annum. The firm incurred a loss of ₹4,000. What is B’s loan interest?
Class 12 · Accountancy · Medium
→If the partnership deed states that interest on capital is payable only when there is profit, what is its treatment in a year of loss?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 4:3. The profit is ₹98,000. A is entitled to a salary of ₹14,000 and B to a commission of ₹7,000. What is A’s final share of profit?
Class 12 · Accountancy · Hard
→A partnership firm has net profit of ₹1,26,000. Interest on a partner’s loan of ₹6,000 has not yet been deducted, and interest on drawings of ₹9,000 has not yet been added. What is the profit available for appropriation?
Class 12 · Accountancy · Hard
→A, B and C share profits in the ratio 3:3:2. Total profit is ₹1,60,000. B receives a salary of ₹20,000 and C receives a commission of ₹16,000. What is A’s share of the remaining profit?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:1. A receives commission at 15% of total profit and then receives a share of the balance in the profit ratio. Total profit is ₹1,20,000. What is A’s total share?
Class 12 · Accountancy · Hard
→B withdrew ₹12,000 at the end of each quarter. Interest on drawings is 10% per annum. What is the interest on drawings for the year?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 5:3. A’s annual salary is ₹36,000 and B’s commission is ₹24,000. Total profit is ₹1,40,000. What is A’s share in the remaining profit?
Class 12 · Accountancy · Medium
→In an appropriation account, interest on capital is ₹30,000 and interest on drawings is ₹5,000. There are no other appropriations. What is the net effect on profit before distribution to partners?
Class 12 · Accountancy · Medium
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