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Class 12 · Accountancy
→Monthly salary of ₹4000 was due to partner A but was not recorded. Profit was already closed equally between A and B. In the adjustment entry whose account will be debited?
Class 12 · Accountancy
→A withdrew ₹6000 at the beginning of each quarter. Interest on drawings is 8% per annum. What is the interest?
Class 12 · Accountancy
→B withdrew ₹3000 at the end of every month. Interest on drawings is 12% per annum. What will be the interest?
Class 12 · Accountancy
→A withdrew ₹2000 at the beginning of every month. Interest on drawings is 6% per annum. What will be the interest for one year?
Class 12 · Accountancy
→Partnership deed allows 10% interest on capital but profit is only ₹18000. Capitals of A and B are ₹200000 and ₹100000. There is no other appropriation. How will interest on capital be allowed?
Class 12 · Accountancy
→A and B share profits in the ratio 3:2. Interest on capital due to A is ₹12000 and to B is ₹8000. Remaining profit is ₹30000. What total net profit will be shown in the Profit and Loss Appropriation Account?
Class 12 · Accountancy
→What is the biggest common mistake in adjustment questions?
Class 12 · Accountancy
→If an adjustment requires recovery from a partner, what will generally happen to his account?
Class 12 · Accountancy
→What is the effect when general reserve is debited in Profit and Loss Appropriation Account?
Class 12 · Accountancy
→When partner salary is debited in the Profit and Loss Appropriation Account, what is the effect on the remaining profit?
Class 12 · Accountancy
→The remaining loss is ₹54,000 and A, B and C share the loss in the ratio 1:2:3. What is B's share?
Class 12 · Accountancy
→The deed is silent and partners worked for unequal time. How will remaining profit generally be shared?
Class 12 · Accountancy
→Goods damaged amounting to Rs 3,500 is recoverable from a partner. How will this be recorded in the partner's account?
Class 12 · Accountancy
→Travelling allowance Rs 6000 is payable to a partner. What will happen in appropriation account and partner account?
Class 12 · Accountancy
→As profit share is Rs 35000 and interest on drawings is Rs 4500. What will be the net effect in As account?
Class 12 · Accountancy
→Under fixed capital method when additional capital Rs 30000 is brought which account will be credited?
Class 12 · Accountancy
→A partner brought a vehicle worth Rs 75000 into the firm as capital. Which account will be credited?
Class 12 · Accountancy
→The firm paid Rs 16,000 for partner A's personal car repair. How should this be adjusted?
Class 12 · Accountancy
→A withdrew Rs 28000 and later deposited Rs 8000 back into the firm. What will be net drawings?
Class 12 · Accountancy
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