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Class 12 · Accountancy · Expert

Loan is ₹150000 at 8 percent interest. ₹30000 principal is paid after 3 months and ₹40000 after 9 months. What is total interest for the year?

Class 12 · Accountancy · Expert

Loan is ₹240000 at 6 percent interest. ₹90000 principal is paid after 6 months. What is total interest for the year?

Class 12 · Accountancy · Medium

A payment of ₹72,000 includes ₹12,000 as interest. By what amount will the loan principal decrease?

Class 12 · Accountancy · Expert

If a payment includes both interest and principal what should be separated first in expert solution?

Class 12 · Accountancy · Expert

If interest due is omitted from the credit of a partner’s loan account, what will be the effect on the final loan balance?

Class 12 · Accountancy · Expert

If payment is wrongly recorded on credit side of loan account what will happen?

Class 12 · Accountancy · Expert

What is 6 percent per annum interest for 10 months on executor loan of ₹96000?

Class 12 · Accountancy · Medium

An executor’s Loan Account has a balance of ₹140,000. If ₹56,000 is paid and ₹8,400 interest is credited, what is the final balance?

Class 12 · Accountancy · Expert

When transferring amount from deceased partner capital account to executor loan account which account is credited?

Class 12 · Accountancy · Expert

In which account is unpaid amount due to a deceased partner kept?

Class 12 · Accountancy · Expert

The retiring partner’s loan account has an outstanding balance of ₹2,50,000. After adding 5% interest, a payment of ₹60,000 is made. What amount will remain in the loan account?

Class 12 · Accountancy · Expert

The opening balance of a partner’s loan account is ₹3,00,000. Interest of ₹18,000 is credited to the account, and ₹1,00,000 is paid. What will be the closing loan balance?

Class 12 · Accountancy · Medium

A payment of ₹50,000 includes ₹8,000 as interest. By how much will the loan principal decrease?

Class 12 · Accountancy · Expert

Loan is ₹180000 at 6 percent interest. ₹60000 principal is paid after 4 months. What is total interest for the year?

Class 12 · Accountancy · Expert

What is interest on ₹200000 loan at 7.5 percent per annum for 8 months?

Class 12 · Accountancy · Medium

₹275,000 is due to a retiring partner, and ₹75,000 is paid immediately. How much will be transferred to the partner’s Loan Account?

Class 12 · Accountancy · Expert

Why is the unpaid amount treated as loan instead of capital after retirement?

Class 12 · Accountancy · Expert

Why is interest on a retiring partner loan not treated as appropriation of profit?

Class 12 · Accountancy · Expert

If the interest rate on a loan given by a partner to the firm is clearly specified in the partnership agreement, what will apply instead of the general 6% rule?

Class 12 · Accountancy · Expert

If no rate is given in the agreement what general interest rate is assumed on partner loan?