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Class 12 · Accountancy
→A ₹90000 loan is paid in four equal quarterly instalments. Ignoring interest, what will be the treatment of each instalment in the loan account?
Class 12 · Accountancy
→If loan interest of ₹8200 is completely omitted, what will be the correct effect?
Class 12 · Accountancy
→Why is sacrificing ratio not useful in calculating interest on a loan account?
Class 12 · Accountancy
→On ₹200000 loan, ₹14000 interest was added at year end and ₹90000 was paid. What will be the remaining base amount for the next period?
Class 12 · Accountancy
→How will the credit balance of loan account be shown in the balance sheet if payment is due within twelve months?
Class 12 · Accountancy
→On a ₹132000 loan, ₹32000 was paid after two months and the balance remained outstanding for ten months. What is interest at six percent per annum?
Class 12 · Accountancy
→The retiring partner's final capital account has a debit balance of ₹42000. What is the most appropriate treatment?
Class 12 · Accountancy
→Why does revaluation profit not go directly to the retiring partner's loan account?
Class 12 · Accountancy
→The agreement clearly says no interest will be allowed, yet ₹6300 interest was added. What will be the correct effect of rectification entry?
Class 12 · Accountancy
→A loan of ₹180000 remained outstanding for two years and the agreement provides four percent annual compound interest. What is total payable after two years?
Class 12 · Accountancy
→If interest is added to the loan and the full amount is paid immediately, what will be the presentation of that loan account in the next balance sheet?
Class 12 · Accountancy
→Retirement took place on 15 August and ₹96000 became loan. Year end is 31 March. At six percent per annum, what is interest up to year end if the period is taken as seven and a half months?
Class 12 · Accountancy
→What is the basic rule behind crediting interest and debiting bank payment in the loan account?
Class 12 · Accountancy
→Interest of ₹12500 should have been recorded in the loan account, but only ₹9500 was recorded. What is the effect on profit and liability?
Class 12 · Accountancy
→In which situation can the opening amount of loan account be more than the final capital balance?
Class 12 · Accountancy
→There was a loan of ₹210000. After four months ₹60000 was paid and the balance remained outstanding for eight months. At seven percent, what is total interest?
Class 12 · Accountancy
→If final payment date is 30 September and year end is 31 March, up to which date will interest on loan be charged?
Class 12 · Accountancy
→A retiring partner's loan account had a credit balance of ₹72000, but ₹90000 was paid through bank. There was no interest. What does this indicate?
Class 12 · Accountancy
→If loan payment is wrongly debited to Profit and Loss Account and the loan account is not debited, what will be the result?
Class 12 · Accountancy
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