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Class 12 · Accountancy
→B withdrew capital of ₹40000 on 1 January. The year is from 1 April to 31 March. Interest on capital is 10%. By how much will interest reduce due to this withdrawal?
Class 12 · Accountancy
→A introduced additional capital of ₹50000 after six months. Original capital was ₹200000 and interest on capital is 12% per annum. What total interest will A get?
Class 12 · Accountancy
→If the debit side of the Profit and Loss Appropriation Account exceeds the credit side what is the treatment of the difference?
Class 12 · Accountancy
→A and B have capitals of ₹100000 and ₹150000. Profit ratio is 2:3. Interest on capital is 10% and available profit is only ₹20000. How much interest will B receive?
Class 12 · Accountancy
→A and B share profits in the ratio 3:1. B is allowed commission of 20% of total profit and the balance is shared in profit ratio. Profit is ₹100000. What is A's total share?
Class 12 · Accountancy
→Profit is ₹70000. Interest on capital due is ₹50000 and partner salary due is ₹30000. The deed says both are payable only if there is profit. What is the correct treatment?
Class 12 · Accountancy
→A and B are equal partners. B’s salary of ₹30,000 was wrongly credited twice, and the accounts have already been closed. What correction is required?
Class 12 · Accountancy
→A partner is to receive commission at 10% of profit after charging such commission. Profit before commission is ₹110000. What is the commission?
Class 12 · Accountancy
→Partners are to receive commission at 5% of net profit. Net profit is ₹200000. Commission is not based on profit after commission. What is total commission?
Class 12 · Accountancy
→What is the correct treatment of interest on drawings in the Profit and Loss Appropriation Account?
Class 12 · Accountancy
→A and B share profits equally. A's capital is ₹80000 and B's capital is ₹120000. Interest on capital at 10% was omitted but profit of ₹60000 was distributed equally. Who gains in the correction?
Class 12 · Accountancy
→A gave a loan of ₹1,20,000 to the firm on 1 October. The accounting year ends on 31 March, and the partnership deed is silent on this matter. How much interest will A receive on the loan?
Class 12 · Accountancy
→Under the fluctuating capital method, to which account is a partner’s salary credited?
Class 12 · Accountancy
→Under fixed capital method interest on A's drawings is ₹1500. Which account will be debited?
Class 12 · Accountancy
→In which situation is the Profit and Loss Appropriation Account prepared?
Class 12 · Accountancy
→A, B and C share profits in the ratio 5:3:2. C is guaranteed a minimum of ₹25,000 by A and B in their profit-sharing ratio. If total profit is ₹90,000, what is A’s final share?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. A guarantees B a minimum profit of ₹40000. Total profit is ₹90000 and there is no other adjustment. What will be the final profit share?
Class 12 · Accountancy
→If the deed is silent and a partner has contributed capital how will interest on capital be treated?
Class 12 · Accountancy
→If the partnership deed is silent what is the rate of interest on a partner's loan?
Class 12 · Accountancy
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