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Class 12 · Accountancy
→A's capital is (₹200000). He introduced additional capital (₹50000) on 1 July and withdrew capital (₹30000) on 1 January. Rate is (8%). What is interest on capital for the year?
Class 12 · Accountancy
→Under fluctuating capital method closing capital is (₹160000), drawings (₹20000), interest on capital (₹12000) and profit share (₹30000). What was opening capital?
Class 12 · Accountancy
→Under fixed capital method what does a debit balance in a partner's current account indicate?
Class 12 · Accountancy
→The firm wrongly debited interest on partner's loan (₹12000) to the profit and loss appropriation account. What is the correct rectification?
Class 12 · Accountancy
→The deed is silent and A gave a loan of (₹75000) to the firm on 1 August. The year ends on 31 March. What is the loan interest?
Class 12 · Accountancy
→A, B and C share profits in (2:2:1). C is guaranteed (₹30000). Total profit is (₹100000) and A alone bears the deficiency. What is A's final profit?
Class 12 · Accountancy
→A is guaranteed a minimum profit of ₹60,000, whereas his normal share of profit is ₹52,000. The deficiency will be borne by B and C in the ratio of 3:1. How much deficiency will B bear?
Class 12 · Accountancy
→In a firm interest on capital (₹40000) and partner salary (₹20000) are payable. Available profit is only (₹30000) and the deed gives priority to interest on capital. How much salary will be allowed?
Class 12 · Accountancy
→A and B share profits in (5:4). A's capital is (₹180000) and B's capital is (₹90000). Interest on capital (10%) was omitted. Who will gain in rectification?
Class 12 · Accountancy
→A and B share profits equally. A's salary (₹36000) was omitted and profit (₹84000) was distributed equally. What will happen in rectification?
Class 12 · Accountancy
→A withdrew (₹15000) on 1 May, (₹25000) on 1 September and (₹10000) on 1 February. The year ends on 31 March and rate is (12%). What is the interest?
Class 12 · Accountancy
→If equal monthly drawings are made on the 15th day of every month what average period is taken?
Class 12 · Accountancy
→A partner withdrew (₹4000) in the middle of every month. Interest on drawings is (9%) per annum. What is the interest?
Class 12 · Accountancy
→A is to receive (15%) commission on profit after charging such commission. Profit before commission is (₹230000). What is the commission?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. A is entitled to a salary of ₹18,000, and B is entitled to a commission of 10% of the profit before charging commission. If the profit is ₹90,000, what amount of residual profit will be distributed between A and B?
Class 12 · Accountancy
→A partnership firm has net profit of ₹1,26,000. Interest on a partner’s loan of ₹6,000 has not yet been deducted, and interest on drawings of ₹9,000 has not yet been added. What is the profit available for appropriation?
Class 12 · Accountancy
→A and B have capitals of ₹300000 and ₹200000. Profit ratio is equal. Interest on capital is 8%. If profit is ₹70000 and there is no other adjustment what is B's total profit?
Class 12 · Accountancy
→If the final residual profit in the appropriation account was distributed between A and B in the wrong ratio 2:1 instead of the correct ratio 1:2. Total residual profit was ₹60000. What is the correction?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. A's salary ₹30000 and B's salary ₹20000 were both omitted. In whose favour will the net correction be?
Class 12 · Accountancy
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