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Class 12 · Accountancy

If ₹76000 is due to a retiring partner and ₹26000 is paid immediately, how much will go to the loan account?

Class 12 · Accountancy

What is the effect of recording payment in a retiring partner's loan account?

Class 12 · Accountancy

On which side is the unpaid capital balance entered in a retiring partner's loan account?

Class 12 · Accountancy

What is the main reason for transferring the unpaid amount due to a retiring partner to a loan account?

Class 12 · Accountancy

If the amount due to retiring partner is fully paid immediately through bank instead of transferring to loan account when will loan account be needed?

Class 12 · Accountancy

Retiring partner loan is ₹250000. At year end 6 percent interest is added and ₹80000 is paid. What is remaining loan after payment?

Class 12 · Accountancy

The statement says retiring partner loan account is a liability and is debited on payment. How is this statement?

Class 12 · Accountancy

What does a zero balance in the retiring partner’s loan account indicate?

Class 12 · Accountancy

If interest ₹7200 is credited to loan account and full interest is paid by bank on same day what is the effect on principal loan?

Class 12 · Accountancy

In ₹180000 loan ₹60000 principal is paid after 2 months. On what amount will interest be charged for next 10 months?

Class 12 · Accountancy

Loan is ₹180000 at 6 percent per annum. ₹60000 is paid after 2 months. What is interest for first 2 months?

Class 12 · Accountancy

On which amount should interest on a retiring partner’s loan not be charged?

Class 12 · Accountancy

Payment of ₹42800 includes interest of ₹2800. What amount reduces principal?

Class 12 · Accountancy

If installment is ₹30000 and separate interest ₹3600 is also paid what is total bank payment?

Class 12 · Accountancy

How does retiring partner loan account separate settlement and payment?

Class 12 · Accountancy

What happens to capital account when amount due is transferred to loan account?

Class 12 · Accountancy

Retiring partner loan account is prepared after which process?

Class 12 · Accountancy

What is the correct way to find balance of loan account?

Class 12 · Accountancy

According to personal account rule when is lender account credited?

Class 12 · Accountancy

What type of account is the loan account of a retiring partner classified as?