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Class 12 · Accountancy
→What is the correct difference between interest and principal payment in loan account?
Class 12 · Accountancy
→If the agreement clearly gives the interest rate on loan which rate will apply?
Class 12 · Accountancy
→If interest rate on loan is not given in the agreement which rate is generally assumed?
Class 12 · Accountancy
→The executor’s loan account of a deceased partner shows a liability of ₹1,60,000. If ₹65,000 has been paid, what will be the remaining liability?
Class 12 · Accountancy
→What is the correct entry to transfer amount from deceased partner capital account to executor loan account?
Class 12 · Accountancy
→Loan is ₹72000 and interest rate is 10 percent per annum. What is interest for 3 months?
Class 12 · Accountancy
→Retiring partner loan is ₹150000. What is 6 percent per annum interest for 8 months?
Class 12 · Accountancy
→Retiring partner loan is ₹110000 and interest rate is 7 percent per annum. What is interest for one year?
Class 12 · Accountancy
→₹180000 is due to retiring partner and ₹50000 is paid immediately. How much will be transferred to loan account?
Class 12 · Accountancy
→If the full amount due to retiring partner is paid immediately what is the need for loan account?
Class 12 · Accountancy
→What is the correct entry when retiring partner loan is paid through bank?
Class 12 · Accountancy
→What is the correct entry to transfer amount from retiring partner capital account to loan account?
Class 12 · Accountancy
→Where is retiring partner loan account shown in the balance sheet?
Class 12 · Accountancy
→What is the main purpose of opening retiring partner loan account?
Class 12 · Accountancy
→Which result is correct after final payment in a retiring partner's loan account?
Class 12 · Accountancy
→What is the purpose of a retiring partner's loan account to clearly show?
Class 12 · Accountancy
→Which mistake should be avoided while finding the balance of a retiring partner's loan account?
Class 12 · Accountancy
→₹125000 is due and ₹75000 is paid immediately. On what base amount will interest on loan be charged?
Class 12 · Accountancy
→Why is interest on a retiring partner's loan not usually transferred to Profit and Loss Appropriation Account?
Class 12 · Accountancy
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