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Class 12 · Accountancy
→A receives a commission of 10% on profit before commission, while B receives a commission of 10% on profit after commission. If the profit before commission is ₹1,21,000, what is A's commission?
Class 12 · Accountancy
→A partner paid firm expense (₹22000) from personal account. Later the firm reimbursed him in cash. What is the final effect on the partner's capital account?
Class 12 · Accountancy
→A took goods costing (₹50000) from the firm for personal use. Selling price is calculated by adding (25%) profit on cost. By what amount will purchases be reduced in books?
Class 12 · Accountancy
→A and B share profits equally. Interest on A's drawings (₹12000) was wrongly debited to B's account. What is the rectification entry?
Class 12 · Accountancy
→A and B share profits in (5:3). Last year's profit (₹64000) was wrongly shared in (3:5). What will happen in rectification?
Class 12 · Accountancy
→Under fixed capital method A's current account shows debit balance (₹7000). During the year A was credited salary (₹18000) and profit share (₹22000) but drawings were (₹50000). What was the opening current account balance?
Class 12 · Accountancy
→A's opening capital was (₹300000). He introduced (₹60000) on 1 June and withdrew capital (₹90000) on 1 December. Interest on capital is (9%). What is the interest for the year?
Class 12 · Accountancy
→The deed is silent. A gave a loan of (₹120000) to the firm on 1 November. The year ends on 31 March. What is the loan interest?
Class 12 · Accountancy
→A, B and C share profits in (3:2:1). C is guaranteed (₹40000). Total profit is (₹150000) and deficiency will be borne by A and B in their ratio. How much will A bear?
Class 12 · Accountancy
→A is entitled to a commission of 20% on the net profit after charging such commission. The profit before charging the commission is ₹96,000. What will be the profit remaining after the commission?
Class 12 · Accountancy
→A withdrew (₹2500) at the beginning of every month and (₹1500) at the end of every month. Interest on drawings is (12%) per annum. What is the total interest?
Class 12 · Accountancy
→A and B share profits in (2:1). A's salary is (₹30000) and interest on capital claims are A (₹24000), B (₹12000). Available profit is (₹54000) and salary has priority. How much interest on capital will B receive?
Class 12 · Accountancy
→Profit as per profit and loss account is (₹180000). Interest on partner's loan (₹9000) has not yet been deducted and interest on drawings (₹4000) has not yet been added. What is the profit available for appropriation?
Class 12 · Accountancy
→There is a trading loss of ₹60000. The deed states interest on capital is payable whether there is profit or loss. Interest on capital is ₹25000. What total loss will be distributed?
Class 12 · Accountancy
→A B and C share profits in the ratio 3:3:2. C is guaranteed minimum profit of ₹40000 by A and B equally. Total profit is ₹120000. What is A's final share?
Class 12 · Accountancy
→A B and C share profits in the ratio 1:2:3. C is guaranteed minimum profit of ₹36000 by all partners in profit ratio. Total profit is ₹90000. What is A's final share?
Class 12 · Accountancy
→A and B share profits in the ratio 2:1. A's salary ₹12000 and B's salary ₹12000 were both omitted. What is the net correction?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. Total interest on capital was ₹50000 but only ₹30000 was wrongly given in profit ratio. Correct interest due was A ₹20000 and B ₹30000. What is the net correction?
Class 12 · Accountancy
→A B and C have capitals of ₹100000 ₹150000 and ₹250000 respectively. Profit ratio is equal. Interest on capital is 6% and profit is ₹90000. What is C's total share?
Class 12 · Accountancy
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