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Class 12 · Accountancy
→To whom is interest on a deceased partner's executor loan account payable?
Class 12 · Accountancy
→In the payment entry for a deceased partner's executor loan account, which account will be debited?
Class 12 · Accountancy
→In case of a deceased partner, the amount due may be transferred to whose account?
Class 12 · Accountancy
→If a partner’s loan is being repaid in instalments and no new amount is added to the account, what happens to the loan account balance after each instalment?
Class 12 · Accountancy
→If a loan account has a balance of ₹35,000 and ₹15,000 is paid, what is the remaining loan?
Class 12 · Accountancy
→Interest and principal are both outstanding in a retiring partner's loan account. What will the final payment cover?
Class 12 · Accountancy
→A retiring partner's loan account behaves like which type of account?
Class 12 · Accountancy
→₹100000 is due and half of it is paid immediately. How much will go to the loan account?
Class 12 · Accountancy
→What does a debit entry in a retiring partner’s loan account indicate?
Class 12 · Accountancy
→What does crediting a retiring partner's loan account mean?
Class 12 · Accountancy
→Why is Profit and Loss Account debited in the entry for interest on a retiring partner's loan?
Class 12 · Accountancy
→Under which heading does a retiring partner's loan account appear in the balance sheet?
Class 12 · Accountancy
→If the partnership agreement is silent about loan interest, which rate is generally taken?
Class 12 · Accountancy
→The interest rate on a retiring partner's loan is clearly written in the agreement. Which rule will apply?
Class 12 · Accountancy
→What is the interest on a ₹40000 loan for nine months at six percent per annum?
Class 12 · Accountancy
→What is the interest on a ₹72000 loan for six months at six percent per annum?
Class 12 · Accountancy
→What is one year's interest on a ₹50000 loan at six percent per annum?
Class 12 · Accountancy
→On what basis is one year's interest on a retiring partner's loan calculated?
Class 12 · Accountancy
→If the total amount due to a retiring partner is ₹90000 and ₹30000 is paid, what will be the remaining loan?
Class 12 · Accountancy
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