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Class 12 · Accountancy
→An amount of ₹1,20,000 payable to a retiring partner is transferred to the partner’s loan account. Which accounting element will increase due to this entry?
Class 12 · Accountancy
→Interest paid on a partner’s loan account is what type of item for the firm?
Class 12 · Accountancy
→A retiring partner’s loan account is generally not adjusted with which of the following items?
Class 12 · Accountancy
→When the amount due in a partner’s loan account is paid, which account will be debited?
Class 12 · Accountancy
→What will be the interest for one year on a loan of ₹50,000 given to the firm by a retiring partner at 8% per annum?
Class 12 · Accountancy
→According to the traditional classification of accounts, what is the nature of a partner’s loan account?
Class 12 · Accountancy
→When interest becomes payable on a partner’s loan, which account is credited in the journal entry?
Class 12 · Accountancy
→If the amount due to the legal heir of a deceased partner is not paid immediately, to which account is it transferred?
Class 12 · Accountancy
→Which of the following items is credited to a retiring partner’s loan account and therefore increases its balance?
Class 12 · Accountancy
→What will be the interest for 6 months on ₹2,00,000 in a partner’s loan account at an annual rate of 6%?
Class 12 · Accountancy
→How is the amount outstanding in a retiring partner’s loan account generally settled?
Class 12 · Accountancy
→On the loan account of a retiring or deceased partner, if the partnership deed specifies interest at 9% per annum, at what rate will the interest be charged?
Class 12 · Accountancy
→How is interest payable on a partner’s loan treated in the Profit and Loss Account?
Class 12 · Accountancy
→An amount of ₹1,50,000 due to a retiring partner is transferred to the partner’s loan account. Which entry will appear in the retiring partner’s loan account?
Class 12 · Accountancy
→Under which broad heading is the partner’s loan account shown in the firm’s balance sheet?
Class 12 · Accountancy
→The balance in a partner’s loan account is ₹80,000. If the annual interest rate on this loan is 6%, what will be the interest for one year?
Class 12 · Accountancy
→If the amount due to a deceased partner is transferred to the partner’s loan account, up to when is interest on that loan generally payable?
Class 12 · Accountancy
→If interest on a partner’s loan is not paid, to which account is it generally added?
Class 12 · Accountancy
→When the amount due to a retiring partner is transferred from the capital account to the partner’s loan account, which account is debited?
Class 12 · Accountancy
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