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Class 12 · Accountancy
→A credit balance remains in the loan account even after payment. What is its correct meaning?
Class 12 · Accountancy
→What is the interest on a ₹64000 loan for six months at six percent per annum?
Class 12 · Accountancy
→To whom is interest in an executor's loan account treated as payable?
Class 12 · Accountancy
→The amount due to a deceased partner's executor may be kept in what type of account?
Class 12 · Accountancy
→What does a zero closing balance in a retiring partner's loan account mean?
Class 12 · Accountancy
→When will a retiring partner's loan account not be needed?
Class 12 · Accountancy
→₹95000 is due and ₹40000 is paid immediately. What will be the remaining loan?
Class 12 · Accountancy
→What type of liability does a retiring partner's loan account represent?
Class 12 · Accountancy
→Which item will not appear on the credit side of a retiring partner's loan account?
Class 12 · Accountancy
→Which item will not appear on the debit side of a retiring partner's loan account?
Class 12 · Accountancy
→What is the effect of adding interest in a retiring partner's loan account?
Class 12 · Accountancy
→Which journal entry is passed when the loan amount is paid to the retiring partner?
Class 12 · Accountancy
→What will be the interest on a ₹84000 loan for three months at six percent per annum?
Class 12 · Accountancy
→Where will the balance of a retiring partner's loan account appear in the balance sheet?
Class 12 · Accountancy
→If the agreement is silent about interest, what rate is generally applied on a retiring partner's loan?
Class 12 · Accountancy
→If the partnership agreement specifies an interest rate, which rate should be applied?
Class 12 · Accountancy
→Which account will be credited in the entry for interest on a retiring partner's loan?
Class 12 · Accountancy
→Which account will be debited in the entry for interest on a retiring partner's loan?
Class 12 · Accountancy
→What will be the interest for one year on a partner’s loan of ₹30,000 at an annual rate of 6%?
Class 12 · Accountancy
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