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Class 12 · Accountancy · Expert
→A and B share profits in (3:2). B is guaranteed (₹48000). Profit is (₹110000). Deficiency is borne by the firm. What is A's share?
Class 12 · Accountancy · Expert
→A and B share profits in (3:2). A is guaranteed minimum total receipt (₹70000) including salary. A's salary is (₹20000), total profit is (₹100000). What deficiency does A need?
Class 12 · Accountancy · Expert
→A has annual salary of (₹24000). From 1 October salary was increased to (₹36000) per annum. The year ends on 31 March. What is total salary?
Class 12 · Accountancy · Expert
→Interest on capital (₹15000) was wrongly shown on the credit side. Correct treatment is debit side. What is the effect of correction on profit?
Class 12 · Accountancy · Expert
→If interest on drawings (₹6000) is wrongly written on the debit side of profit and loss appropriation account what is the total error in profit?
Class 12 · Accountancy · Expert
→A and B share profits in (2:3). Insurance premium (₹25000) belonged to A's personal policy but was debited as firm expense. What is the net effect on A in rectification?
Class 12 · Accountancy · Expert
→A and B share profits equally. B's personal tax (₹18000) was paid by the firm and treated as expense. What is the net effect of correction?
Class 12 · Accountancy · Expert
→The partnership deed says A will receive commission of (2%) on sales. Sales are (₹1000000) and net profit is (₹140000). What is the accounting treatment of commission?
Class 12 · Accountancy · Expert
→A and B share profits in (5:4). B is guaranteed (₹72000) by A. Total profit is (₹144000). What is A's final profit?
Class 12 · Accountancy · Expert
→In a partnership of A and B, B is guaranteed (₹50000) by the firm and not by a specific partner. Total profit is (₹90000), ratio (2:1). What is A's profit?
Class 12 · Accountancy · Expert
→Partners share profits in (2:2:1). Interest on capital claims are (₹30000), (₹20000), (₹10000) respectively. Profit is only (₹45000). How much interest will the third partner get?
Class 12 · Accountancy · Expert
→A and B share profits in (3:2). A's salary (₹36000) was omitted and profit (₹100000) was already shared in (3:2). How much will be transferred from B to A in rectification?
Class 12 · Accountancy · Expert
→A partner withdrew (₹18000) at the end of each half year. Rate is (8%) per annum. What is the interest?
Class 12 · Accountancy · Expert
→A partner withdrew (₹20000) at the beginning of each half year. Rate is (10%) per annum. What is interest on drawings?
Class 12 · Accountancy · Expert
→A and B share profits in (7:3). Expense of (₹30000) was wrongly debited to B's drawings. Correct treatment is as firm expense. What is the net effect on B in rectification?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Income of ₹20,000 belonging to the firm was wrongly credited directly to A’s capital account. How much will B gain on rectification?
Class 12 · Accountancy · Expert
→At year end A's fluctuating capital is (₹210000). During the year A withdrew (₹25000), received interest on capital (₹12000), and was debited loss share (₹33000). What was opening capital?
Class 12 · Accountancy · Expert
→A and B have capitals (₹250000) and (₹150000). Profit ratio is (3:2). Interest on capital is (8%) and available profit is (₹28000). How much interest will B receive?
Class 12 · Accountancy · Expert
→If the partnership deed provides for commission to a partner on profit, but the firm incurs a net loss, what will be the amount of profit commission payable?
Class 12 · Accountancy · Expert
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