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Class 12 · Accountancy
→To which account is the interest payable on a retiring partner’s loan debited?
Class 12 · Accountancy
→If the partnership deed is silent, at what rate is interest payable on a loan given by a partner to the firm?
Class 12 · Accountancy
→If the amount due to a deceased partner is not paid immediately, what is the main purpose of transferring it to a loan account?
Class 12 · Accountancy
→When the amount due to a retiring partner is transferred to the partner’s loan account, how is it shown in the firm’s balance sheet?
Class 12 · Accountancy
→Which is the most accurate analytical statement about a retiring partner's loan account?
Class 12 · Accountancy
→Which sequence most correctly gives the amount in a retiring partner's loan account?
Class 12 · Accountancy
→Why is it wrong to distribute loan interest among remaining partners' capital accounts in the new ratio?
Class 12 · Accountancy
→If interest payment appears in bank but interest due entry is missing in loan account, what is the deficiency?
Class 12 · Accountancy
→₹370000 was due. ₹140000 was paid immediately and eight percent interest was added on the balance for the first year. No further payment was made. What will be the year-end balance?
Class 12 · Accountancy
→If the liability of a retiring partner's loan account is understated, what is the direct effect on the balance sheet?
Class 12 · Accountancy
→On ₹180000 loan, ₹60000 is paid at mid-year. What is the correct basis for six percent interest calculation?
Class 12 · Accountancy
→Interest of ₹9500 was wrongly debited to the loan account though it should have been credited. By how much will the loan balance be understated?
Class 12 · Accountancy
→If part of the amount due to a retiring partner is settled by giving machinery, what should be done while finding the loan account amount?
Class 12 · Accountancy
→Interest is charged on ₹120000 for first eight months at six percent and then on remaining ₹70000 for four months. What is total interest?
Class 12 · Accountancy
→Which check is most important before closing a loan account?
Class 12 · Accountancy
→Interest of ₹18000 is recorded on ₹240000 loan for nine months. What is the actual annual rate?
Class 12 · Accountancy
→Bank payment was wrongly credited to the loan account and interest was also credited. Which statement is correct?
Class 12 · Accountancy
→What is the difference between simple interest and annual compound interest on ₹1,50,000 at an annual rate of 6% for 2 years?
Class 12 · Accountancy
→If only interest is paid through bank and principal remains outstanding, what will happen to the principal balance of the loan account?
Class 12 · Accountancy
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