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Class 12 · Accountancy
→If payment is wrongly debited to capital account after amount was transferred to loan what will be the effect on loan account?
Class 12 · Accountancy
→A payment made by bank to a retiring partner against the partner’s loan account was not recorded in the books. How will this error affect the balance of the loan account?
Class 12 · Accountancy
→Credit balance of loan account and interest due both have what nature in balance sheet?
Class 12 · Accountancy
→Why is profit share not given on balance in retiring partner loan account?
Class 12 · Accountancy
→Which is the correct entry for payment from executor loan account?
Class 12 · Accountancy
→What is the main similarity between executor loan account and retiring partner loan account?
Class 12 · Accountancy
→What is the most important basis for calculating interest between installments?
Class 12 · Accountancy
→For a loan taken from a partner, what is the correct accounting treatment of interest due when the firm's profit is very low?
Class 12 · Accountancy
→If interest is payable on loan and the firm has a loss what happens to the interest?
Class 12 · Accountancy
→Why can retiring partner loan be shown with external liabilities?
Class 12 · Accountancy
→What happens to capital account when amount is transferred from capital account to loan account?
Class 12 · Accountancy
→The loan account of a retiring partner is treated as which type of account?
Class 12 · Accountancy
→If interest is first credited to loan account and then paid what will be the payment entry?
Class 12 · Accountancy
→If interest is paid immediately when it becomes due which simple entry may be passed?
Class 12 · Accountancy
→At the time of a partner’s retirement or death, if interest on the partner’s loan is due but has not yet been paid, what entry will be made in the partner’s Loan Account?
Class 12 · Accountancy
→If interest is credited and the same interest is paid through bank on the same day what is the effect on principal loan?
Class 12 · Accountancy
→If retiring partner loan account shows a debit balance what does it generally indicate?
Class 12 · Accountancy
→If the retiring partner is paid the full amount immediately through bank when will loan account be used?
Class 12 · Accountancy
→A partner’s Loan Account has an opening credit balance of ₹2,25,000. Interest of ₹13,500 is credited to the account, and ₹70,000 is paid. What will be the final credit balance of the Loan Account?
Class 12 · Accountancy
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