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Class 12 · Accountancy
→Interest on retiring partner loan is treated as what kind of expense for the firm?
Class 12 · Accountancy
→If interest rate on retiring partner loan is not given in the agreement which rate is generally used?
Class 12 · Accountancy
→The executor’s loan account of a deceased partner shows an amount payable of ₹1,00,000. If ₹40,000 is paid, what will be the remaining liability?
Class 12 · Accountancy
→What is the entry to transfer deceased partner capital balance to executor loan account?
Class 12 · Accountancy
→If amount due to a deceased partner is not paid immediately to which account is it transferred?
Class 12 · Accountancy
→What is the main difference between retiring partner loan account and capital account?
Class 12 · Accountancy
→Retiring partner loan is ₹90000 and interest is 8 percent per annum for 6 months. What is the interest?
Class 12 · Accountancy
→Retiring partner loan is ₹60000 and annual interest rate is 6 percent. What is interest for one year?
Class 12 · Accountancy
→If ₹80000 is due to a retiring partner and ₹30000 is paid immediately how much will be transferred to loan account?
Class 12 · Accountancy
→Which account is debited when an installment of retiring partner loan is paid through bank?
Class 12 · Accountancy
→What is the usual entry for crediting interest to retiring partner loan account?
Class 12 · Accountancy
→Which is the correct entry to transfer amount from retiring partner capital to loan account?
Class 12 · Accountancy
→On which side of the balance sheet is retiring partner loan account shown?
Class 12 · Accountancy
→Which account is opened when the amount due to a retiring partner is not paid immediately?
Class 12 · Accountancy
→What is the simple purpose of a retiring partner's loan account?
Class 12 · Accountancy
→Which item increases the balance of a retiring partner's loan account?
Class 12 · Accountancy
→Which item reduces the balance of a retiring partner's loan account?
Class 12 · Accountancy
→What will be the total amount payable after adding six percent interest for one year on a ₹45000 loan?
Class 12 · Accountancy
→A retiring partner's loan account is most closely related to which stage?
Class 12 · Accountancy
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