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Class 12 · Accountancy
→If payment in loan account is wrongly recorded on credit side what error will occur?
Class 12 · Accountancy
→Interest rate on retiring partner loan is 9 percent per annum. What is interest for 10 months on ₹180000 loan?
Class 12 · Accountancy
→Loan account has initial credit of ₹320000. During the year principal payment of ₹75000 is made and interest of ₹12000 is credited at year end. What is final balance?
Class 12 · Accountancy
→Retiring partner loan is ₹275000 and 4 percent annual interest is added for one year. If ₹95000 is paid what is the remaining loan?
Class 12 · Accountancy
→Which is the most accurate overall statement related to a retiring partner's loan account?
Class 12 · Accountancy
→A question gives both interest on retiring partner's loan and remaining partners' profit-sharing ratio. What is the use of profit-sharing ratio in calculating loan interest?
Class 12 · Accountancy
→If the loan account had ₹50000 credit balance and ₹2500 interest was added before full payment, by what amount will Bank be credited in the payment entry?
Class 12 · Accountancy
→A retiring partner's loan account contains both payment and interest. Which rule is correct while balancing the account?
Class 12 · Accountancy
→On a ₹180000 loan, ₹60000 was paid after nine months and ₹50000 at year end. At six percent, what is the interest for the year?
Class 12 · Accountancy
→Which pair shows the correct sides in a retiring partner's loan account?
Class 12 · Accountancy
→If the retiring partner's final capital account has a debit balance, what is the correct conclusion about the loan account?
Class 12 · Accountancy
→Why is revaluation profit not directly entered in the retiring partner's loan account while preparing it?
Class 12 · Accountancy
→If interest is added to the retiring partner's loan account but not debited to Profit and Loss Account, which effect will be wrong?
Class 12 · Accountancy
→Interest on ₹72000 loan should have been ₹3600 at year end, but only ₹3000 was recorded. By how much is the loan liability understated?
Class 12 · Accountancy
→If after adding interest to retiring partner's loan account, bank payment equals only principal, what will the balance represent?
Class 12 · Accountancy
→Samira retired on 1 July and ₹90000 remained as loan. Year end is 31 March and interest is six percent per annum. What is interest up to year end?
Class 12 · Accountancy
→How will the interest period on loan be determined when retirement occurs during the year?
Class 12 · Accountancy
→In which situation will the amount transferred to loan account be less than the retiring partner's final capital balance?
Class 12 · Accountancy
→What error occurs if payment of retiring partner's loan is debited to Profit and Loss Account?
Class 12 · Accountancy
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