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Class 12 · Accountancy
→If debit balance of Profit and Loss Account is given in balance sheet how will it be treated?
Class 12 · Accountancy
→If credit balance of Profit and Loss Account is given in balance sheet what nature of item is it?
Class 12 · Accountancy
→At the time of a partner’s admission, the General Reserve in the books is ₹48,000 and the old partners’ profit-sharing ratio is 5:1. Why will the new partner not receive a share of this reserve?
Class 12 · Accountancy
→Before the admission of a new partner, A, B and C share profits and losses in the ratio 3:2:1. The General Reserve is ₹90,000. When it is distributed among the old partners, what will be B’s share?
Class 12 · Accountancy
→If the firm follows fluctuating capital method where will accumulated loss be debited?
Class 12 · Accountancy
→If the firm follows fixed capital method where can General Reserve profit be credited?
Class 12 · Accountancy
→What is the effect on old partners capital accounts when accumulated loss is distributed?
Class 12 · Accountancy
→What is the effect on old partners capital accounts when reserve is distributed?
Class 12 · Accountancy
→What is the immediate effect of distributing reserve on total assets?
Class 12 · Accountancy
→General Reserve balance is kept in books even after admission. What may be its effect?
Class 12 · Accountancy
→Advertisement Suspense Account is ₹18000 at admission. How will it be adjusted?
Class 12 · Accountancy
→A and B share profits and losses in the ratio of 2:3. The General Reserve is ₹25,000 and the Profit and Loss Account has a debit balance of ₹10,000. What is the net accumulated amount to be distributed among the partners before the admission of a new partner?
Class 12 · Accountancy
→A and B share profits in the ratio of 7:3. The General Reserve is ₹50,000 and the Profit and Loss Account has a credit balance of ₹20,000. When these amounts are distributed among the old partners, what total amount will be credited to B?
Class 12 · Accountancy
→If General Reserve appears on the liabilities side of the balance sheet, what does it represent?
Class 12 · Accountancy
→Distributing accumulated profits in the new ratio is what type of mistake?
Class 12 · Accountancy
→At the time of a partner’s admission, a Capital Reserve of ₹24,000 appears in the books. The old partners share profits in the ratio of 1:1. What is the correct accounting treatment for this Capital Reserve?
Class 12 · Accountancy
→Why is Employees Provident Fund not distributed like a reserve on admission?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹15000. Investment value increases from ₹80000 to ₹87000. What is the treatment of the reserve?
Class 12 · Accountancy
→Investment Fluctuation Reserve is ₹20000. Book value of investment is ₹100000 and market value is ₹92000. What amount will be distributed among old partners?
Class 12 · Accountancy
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