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Class 12 · Accountancy
→Interest on drawings Rs 5000 was debited to appropriation account though it should have been credited. What is the effect on distributable profit?
Class 12 · Accountancy
→General reserve Rs 12000 was to be created but was omitted. How will profit distributed among partners appear?
Class 12 · Accountancy
→A partner's commission of Rs 9,000 was omitted from the books. What will be the effect on the remaining profit to be distributed among partners?
Class 12 · Accountancy
→Interest on capital Rs 12000 was omitted. How will partners balance appear?
Class 12 · Accountancy
→Interest on drawings Rs 1500 was credited to partner account though it should have been debited. What is the effect?
Class 12 · Accountancy
→Under fluctuating capital method profit share Rs 16000 was wrongly debited. What is the effect on capital balance?
Class 12 · Accountancy
→Under fluctuating capital method opening capital is Rs 110000 profit share Rs 30000 salary Rs 12000 and drawings Rs 26000. What is closing capital?
Class 12 · Accountancy
→Bs current account has opening credit Rs 8000 commission Rs 7000 and interest on drawings Rs 2500. What is closing balance?
Class 12 · Accountancy
→A's current account has an opening debit balance of Rs 6000; salary of Rs 14000 was credited and drawings were Rs 5000. What is the closing balance?
Class 12 · Accountancy
→B invested Rs 100000 capital at the beginning and withdrew Rs 40000 after nine months. What is interest on capital at twelve percent?
Class 12 · Accountancy
→A invested Rs 60000 capital at the beginning and added Rs 30000 after three months. What is interest on capital at ten percent?
Class 12 · Accountancy
→Equal quarterly drawings of Rs 6000 are made at the beginning of each quarter and rate is eight percent. What is interest on drawings?
Class 12 · Accountancy
→Equal drawings of Rs 4000 are made in the middle of every month and rate is nine percent. What is interest on drawings?
Class 12 · Accountancy
→If interest on capital is treated as interest on loan and charged to Profit and Loss Account what is the main error?
Class 12 · Accountancy
→Interest on partner loan Rs 9000 was not deducted from net profit by mistake. What is the correct adjustment?
Class 12 · Accountancy
→A and B share profits in ratio three to two. A guarantees B minimum profit Rs 50000. Total profit is Rs 110000. What is Bs deficiency?
Class 12 · Accountancy
→A is guaranteed minimum profit Rs 42000 and normal share is Rs 35000. What is the deficiency?
Class 12 · Accountancy
→Profit Rs 100000 was to be shared in ratio four to one but was shared equally. How much excess did B receive?
Class 12 · Accountancy
→Profit Rs 120000 was shared equally though correct ratio was three to one. How much more should A receive?
Class 12 · Accountancy
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