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Class 12 · Accountancy
→On dissolution of a partnership firm, from what are the external liabilities generally paid?
Class 12 · Accountancy
→What is generally done with the assets of a partnership firm at the time of its dissolution?
Class 12 · Accountancy
→Which account is prepared at the time of dissolution of a firm to determine the profit or loss arising from the settlement of its assets and external liabilities?
Class 12 · Accountancy
→What is the process of permanently closing a partnership firm and ending its existence called?
Class 12 · Accountancy
→Which of the following items is generally not included in the final calculation of a deceased partner’s claim?
Class 12 · Accountancy
→A deceased partner’s total claim is ₹190000. If ₹40000 has been paid to the partner’s executor, what balance will remain in the deceased partner’s loan account?
Class 12 · Accountancy
→If commission has been earned by a deceased partner up to the date of death, how will it be treated in the partner’s claim?
Class 12 · Accountancy
→A deceased partner’s capital account shows ₹79,000, and their share of goodwill is ₹11,000 while their share of the reserve fund is ₹10,000. Assuming there are no other adjustments, what will be the deceased partner’s total claim?
Class 12 · Accountancy
→A deceased partner’s total claim is ₹1,68,000. If the firm has an accumulated loss of ₹18,000, what will be the net claim payable to the deceased partner?
Class 12 · Accountancy
→Assuming that profit accrues evenly throughout the year, if the estimated annual profit is ₹30,00,000 and a partner dies after 5 months of the financial year, what is the firm’s estimated profit up to the date of death?
Class 12 · Accountancy
→Assertion (A): The deceased partner’s share of profit up to the date of death is credited to his capital account. Reason (R): This amount forms part of the total claim payable to the deceased partner.
Class 12 · Accountancy
→While estimating a deceased partner’s share of profit up to the date of death, which basis is generally used if the partnership deed contains no provision?
Class 12 · Accountancy
→If the profit of the previous year was ₹24,00,000 and profit is assumed to accrue evenly throughout the year, what will be the estimated profit up to the date of a partner’s death at the end of the 9th month of the current year?
Class 12 · Accountancy
→If interest is payable under the partnership deed, how is the interest accrued on the deceased partner’s capital up to the date of death treated?
Class 12 · Accountancy
→If a deceased partner’s capital is ₹96,000 and accumulated profits are ₹4,000, and there are no other adjustments, what is the total amount payable to the deceased partner’s account?
Class 12 · Accountancy
→When is the unpaid amount transferred to a loan account?
Class 12 · Accountancy
→On the death of a partner, his capital account shows ₹66,000, his share of profit is ₹14,000, and his share in the reserve fund is ₹20,000. If there are no other adjustments, what will be the total amount payable to the deceased partner’s legal representative?
Class 12 · Accountancy
→On what basis is a deceased partner’s share of revaluation profit determined?
Class 12 · Accountancy
→A deceased partner’s account shows a total claim of ₹1,46,000. If ₹46,000 has already been paid to the partner’s executor, what amount of the claim remains payable?
Class 12 · Accountancy
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