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Class 12 · Accountancy
→Which item will go to the Profit and Loss Account and not to the Profit and Loss Appropriation Account?
Class 12 · Accountancy
→If profit ratio is given among partners but loss ratio is not given how will losses be shared?
Class 12 · Accountancy
→A B and C share profits in the ratio 2:3:5. C's commission of ₹20000 was omitted. Profit was already distributed. What net amount will be credited to C?
Class 12 · Accountancy
→A B and C share profits in the ratio 3:2:1. C's salary of ₹24000 was omitted. Profit was already distributed. How much will be debited to A?
Class 12 · Accountancy
→A and B share profits in the ratio 5:3. Interest on A's drawings of ₹4000 was wrongly treated as an expense in the Profit and Loss Account. What is the correct net adjustment?
Class 12 · Accountancy
→A and B share profits in the ratio 2:3. Salary of ₹18000 payable to B was wrongly credited to A. What is the correct adjustment?
Class 12 · Accountancy
→A and B are equal partners. Interest on capital of ₹10000 to A was omitted and salary of ₹6000 was over allowed to B. After closing accounts what is the net correction?
Class 12 · Accountancy
→Under fluctuating capital method B's opening capital is ₹250000. Profit share is ₹60000 interest on capital is ₹20000 drawings are ₹70000 and interest on drawings is ₹5000. What is the closing capital?
Class 12 · Accountancy
→Under fixed capital method A's current account had an opening credit balance of ₹12000. A received salary ₹30000 and had drawings ₹38000. What will be the closing current account balance?
Class 12 · Accountancy
→A and B share profits in the ratio 7:3. B gets commission at 10% of total profit and the remaining profit is shared in ratio. Total profit is ₹150000. What is A's share?
Class 12 · Accountancy
→B is to receive commission at 7% of net profit. Profit before commission is ₹250000 and commission is not based on profit after commission. What is the commission?
Class 12 · Accountancy
→Partner A is to receive commission at 12% of profit after charging such commission. Profit before commission is ₹112000. What is the commission?
Class 12 · Accountancy
→Profit is ₹80000. Partner salary due is ₹50000 and interest on capital due is ₹70000. The deed gives priority to salary. How much interest on capital can be allowed?
Class 12 · Accountancy
→The deed provides 8% interest on capital. Profit is only ₹36000. Capitals of A and B are ₹300000 and ₹200000 respectively. There is no other appropriation. How much interest will B receive?
Class 12 · Accountancy
→The firm gave a loan of ₹100000 to B. The deed is silent. What is the correct treatment of interest on this loan?
Class 12 · Accountancy
→Partner A gave a loan of ₹200000 to the firm on 1 January. The deed is silent and the year ends on 31 March. What is the interest?
Class 12 · Accountancy
→A B and C share profits in the ratio 4:4:1. C is guaranteed ₹30000 by A and B in their profit ratio. Total profit is ₹180000. What is B's final profit?
Class 12 · Accountancy
→A B and C share profits in the ratio 5:3:2. C is guaranteed minimum profit of ₹50000 by A alone. Total profit is ₹200000. What is A's final share?
Class 12 · Accountancy
→A and B share profits in the ratio 2:5. A's capital is ₹140000 and B's capital is ₹210000. Interest on capital at 10% was omitted and profit was already distributed. In whose favour will the net adjustment be?
Class 12 · Accountancy
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