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Class 12 · Accountancy · Hard
→In which situation can interest on capital be allowed even in loss?
Class 12 · Accountancy · Hard
→A and B shared profit of ₹70000 in the ratio 2:3. Later it was found that A's interest on drawings of ₹5000 was credited twice. What is the net correction?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Profit is ₹100000. A gets salary ₹20000. B gets commission at 10% of the remaining profit. What is B's total share?
Class 12 · Accountancy · Hard
→If the partnership deed does not mention the profit sharing ratio how will remaining profit after adjustments be distributed?
Class 12 · Accountancy · Hard
→B withdrew ₹30000 at the end of each half year. Interest on drawings is 8% per annum. What is the interest?
Class 12 · Accountancy · Hard
→A withdrew ₹20000 at the beginning of each half year. Interest on drawings is 9% per annum. What is the interest?
Class 12 · Accountancy · Hard
→A and B are equal partners. Interest on A's capital of ₹8000 was wrongly recorded as ₹18000. Accounts are closed. What is the net correction?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 5:4. A gave a loan of ₹60000 to the firm carrying 6% interest for the full year. What is the relation of this interest with profit ratio?
Class 12 · Accountancy · Hard
→Which item correctly appears on the credit side of the Profit and Loss Appropriation Account?
Class 12 · Accountancy · Hard
→Which item normally appears on the debit side of the Profit and Loss Appropriation Account?
Class 12 · Accountancy · Hard
→A, B and C share profits in the ratio 3:3:2. Total profit is ₹1,60,000. B receives a salary of ₹20,000 and C receives a commission of ₹16,000. What is A’s share of the remaining profit?
Class 12 · Accountancy · Hard
→If the partnership deed provides commission to a partner on profit what type of item is it for the firm?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. B was given excess interest on capital of ₹10000. Accounts are closed. What is the net correction?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 1:2. A's salary of ₹21000 was omitted. Profit has already been distributed. What is the net correction?
Class 12 · Accountancy · Hard
→A and B distributed profit of ₹90000 in the ratio 3:2. Later it was found that A's interest on capital ₹15000 and B's interest on drawings ₹5000 were omitted. In whose favour will the net correction be?
Class 12 · Accountancy · Hard
→The firm paid B's personal insurance premium of ₹18000 and did not treat it as drawings. What is the correct adjustment?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 4:1. Total profit is ₹75000. A guarantees B a minimum of ₹25000. What is A's final profit?
Class 12 · Accountancy · Hard
→If partners maintain fixed capitals and additional capital is introduced which account will record it?
Class 12 · Accountancy · Hard
→A B and C maintain fixed capitals. C's current account had an opening debit balance of ₹5000. During the year C's profit share is ₹22000 and drawings are ₹30000. What is the closing current account balance?
Class 12 · Accountancy · Hard
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