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Class 12 · Accountancy · Medium
→A and B share profits in the ratio 5:3. A’s annual salary is ₹36,000 and B’s commission is ₹24,000. Total profit is ₹1,40,000. What is A’s share in the remaining profit?
Class 12 · Accountancy · Hard
→B invested ₹240000 capital at the beginning of the year and withdrew ₹80000 on 1 January. Interest on capital is 9% per annum. What total interest on capital will B receive?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 4:3. A's opening capital was ₹180000 and he introduced ₹60000 additional capital on 1 October. Interest on capital is 10% per annum. What is A's interest on capital?
Class 12 · Accountancy · Medium
→In an appropriation account, interest on capital is ₹30,000 and interest on drawings is ₹5,000. There are no other appropriations. What is the net effect on profit before distribution to partners?
Class 12 · Accountancy · Expert
→A and B share profits in (3:2). A is to receive (20%) commission on profit before commission. Profit before commission is (₹50000). What is B's final profit share?
Class 12 · Accountancy · Expert
→A and B share profits equally. A's capital is (₹100000) and B's capital is (₹200000). Interest on capital (10%) was omitted. Profit (₹60000) was already shared equally. What happens in rectification?
Class 12 · Accountancy · Expert
→In a past adjustment A should be credited (₹18000) and B should be debited (₹12000). If only one adjustment entry is to be made which result is correct?
Class 12 · Accountancy · Expert
→A partner made drawings on different dates during the year. Which is the most accurate method?
Class 12 · Accountancy · Medium
→A and B have fixed capitals of ₹70,000 and ₹90,000 respectively. A’s current account has a debit balance of ₹4,000. On what amount will interest on A’s capital be calculated?
Class 12 · Accountancy · Expert
→If the deed has no clause for interest on drawings but the question separately gives a rate in the exam what should be done?
Class 12 · Accountancy · Expert
→A gave a loan of (₹50000) to the firm on 1 July. The deed is silent. What is the loan interest up to 31 March?
Class 12 · Accountancy · Expert
→Which item is treated as a charge against profit and not an appropriation of profit?
Class 12 · Accountancy · Expert
→If a partner is given commission on sales how is it treated in partnership profit appropriation?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 2:3. Profit before appropriations is ₹50,000. A receives a salary of ₹12,000 and B receives a salary of ₹8,000. What is A’s final total share?
Class 12 · Accountancy · Expert
→Last year's profit (₹96000) was shared in capital ratio (5:3) but the correct ratio was (3:1). Which partner will be credited in rectification?
Class 12 · Accountancy · Expert
→If guarantee deficiency is to be borne by all non guaranteed partners in their capital ratio which ratio will be used?
Class 12 · Accountancy · Expert
→A and B share profits in (7:3). B is guaranteed (₹45000). Profit is (₹120000) and A bears the deficiency. What is A's final profit?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 4:1. Total profit is ₹60,000. B is guaranteed a minimum profit of ₹20,000, and A will bear any deficiency. What is B’s final profit?
Class 12 · Accountancy · Expert
→The partnership deed says interest on capital is (8%) and interest on drawings is (10%). Which side is correct in profit and loss appropriation account?
Class 12 · Accountancy · Expert
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