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Class 12 · Accountancy
→After retirement, the amount due to the retiring partner is transferred to the partner’s loan account. Who ultimately bears the interest payable on this loan account?
Class 12 · Accountancy
→When the principal recorded in a retired or deceased partner’s loan account is paid in installments, what effect will each installment have on the firm’s books?
Class 12 · Accountancy
→A partner’s loan account has a balance of ₹1,10,000. If the annual interest rate is 4%, what will be the interest for one year?
Class 12 · Accountancy
→When interest on a partner’s loan becomes due before it is paid, on the basis of which accounting concept is it recognised?
Class 12 · Accountancy
→After reconstitution, what will be the annual interest on a partner’s loan account of ₹4,00,000 at 3%?
Class 12 · Accountancy
→When the amount due to a retiring partner is not paid immediately, in which situation is the partner’s capital account closed and the balance transferred to the partner’s loan account?
Class 12 · Accountancy
→What accounting effect arises when a partner’s loan account is paid?
Class 12 · Accountancy
→A retired partner’s loan account has a balance of ₹1,80,000. If interest is payable on it at 5% per annum, what will be the interest for one year?
Class 12 · Accountancy
→When interest payable on a partner’s loan is paid in cash, on which side will the Cash Account be recorded in the journal entry?
Class 12 · Accountancy
→Why is a loan account opened for the amount due to a retiring or deceased partner when it is not paid immediately?
Class 12 · Accountancy
→A retired partner’s loan account has a balance of ₹70,000, carrying interest at 6% per annum. What will be the interest for one year?
Class 12 · Accountancy
→If the amount due to a retiring partner is not paid immediately, which of the following accounts may be continued?
Class 12 · Accountancy
→What will be the interest for one year on a partner’s loan account of ₹250000 at 12% per annum?
Class 12 · Accountancy
→If the amount due to a retiring partner is not paid immediately, which amount may be added after transferring it to the partner’s loan account?
Class 12 · Accountancy
→Interest on a partner’s loan account is generally calculated on what basis?
Class 12 · Accountancy
→When ₹30,000 is paid against a partner’s loan account, which entry will be made in that account?
Class 12 · Accountancy
→After reconstitution, what does a credit balance in a partner’s loan account indicate?
Class 12 · Accountancy
→After reconstitution, ₹90,000 is outstanding in the retiring partner’s loan account at 10% per annum for 9 months. What will be the interest for this period?
Class 12 · Accountancy
→Transfer of the amount due to a deceased partner to the partner’s loan account reflects which accounting principle?
Class 12 · Accountancy
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