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Class 12 · Accountancy · Hard
→A loan of ₹100000 remained outstanding for two years and agreement provides six percent annual compound interest. What is the total payable after two years?
Class 12 · Accountancy · Hard
→If the agreement says interest on retiring partner's loan is compounded annually, what happens if simple interest is applied?
Class 12 · Accountancy · Hard
→In a case, loan was ₹200000, interest of ₹12000 was added at year end and ₹80000 was paid immediately. What will be the balance after year end?
Class 12 · Accountancy · Hard
→Why should the balance of a retiring partner's loan account not be taken back to capital account?
Class 12 · Accountancy · Hard
→If the balance after adding interest in a retiring partner's loan account is ₹154500 and interest was ₹4500, what was the original outstanding loan?
Class 12 · Accountancy · Hard
→A loan of ₹60000 is paid in three equal monthly instalments. Ignoring interest, what is the effect of each instalment on the loan account?
Class 12 · Accountancy · Hard
→If interest recorded in retiring partner's loan account and interest paid through bank differ, what should be reconciled first?
Class 12 · Accountancy · Hard
→A partnership agreement says the retiring partner will not get interest on loan, but payment will be after two years. What is the correct treatment?
Class 12 · Accountancy · Hard
→Debit to which account will reduce the liability of a retiring partner's loan?
Class 12 · Accountancy · Hard
→A loan of ₹140000 carries seven percent for first six months and six percent for next six months. No payment was made. What is total interest?
Class 12 · Accountancy · Hard
→If interest on a retiring partner's loan is shown as paid directly through bank without first recording interest due, what will be missing in accounting presentation?
Class 12 · Accountancy · Hard
→The firm made final payment of loan ₹85000 and interest ₹5100 to a retiring partner. In the correct payment entry, by what amount will the loan account be debited?
Class 12 · Accountancy · Hard
→When interest is credited to the retiring partner's loan account, which account should have the corresponding debit?
Class 12 · Accountancy · Hard
→Anand was due ₹300000. ₹100000 was paid immediately and the balance carries ten percent annual interest. After six months ₹50000 instalment was paid. What is interest for first six months?
Class 12 · Accountancy · Hard
→In which case will a retiring partner's loan account be prepared but interest will not be added?
Class 12 · Accountancy · Hard
→If the closing balance of a retiring partner's loan account is debit, what is the most probable reason?
Class 12 · Accountancy · Hard
→On a ₹96000 loan, no payment was made for first four months, then ₹36000 was paid. The balance remained outstanding for next eight months. At six percent, what is total interest?
Class 12 · Accountancy · Hard
→Which item in a retiring partner's loan account does not directly affect Profit and Loss Account?
Class 12 · Accountancy · Hard
→Which statement gives the correct accounting principle about a retiring partner's loan account?
Class 12 · Accountancy · Hard
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