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Class 12 · Accountancy
→If profit has been distributed in wrong ratio what is compared in correction?
Class 12 · Accountancy
→If interest on drawings was omitted, what will happen in the concerned partner's account?
Class 12 · Accountancy
→If interest on capital was omitted what is the correct effect on partners account?
Class 12 · Accountancy
→If partner salary was omitted by mistake it will be credited to which partners account?
Class 12 · Accountancy
→What is generally prepared to correct an error in past profit distribution in partnership?
Class 12 · Accountancy
→What is the main purpose of adjustments in partnership accounts?
Class 12 · Accountancy
→In complex profit distribution with guarantee deficiency sequential commission proportionate interest and old ratio correction together what is the safest final check?
Class 12 · Accountancy
→A was paid Rs 96,000 according to the old profit-sharing ratio but under the correct calculation he should have received only Rs 84,000. In the adjustment, what will be the treatment of A's account?
Class 12 · Accountancy
→Profit ratio changed and Rs 270000 profit was distributed in old ratio three to two. New correct ratio is four to five. What happens to B in correction?
Class 12 · Accountancy
→At balancing of appropriation account credit side exceeds by Rs 12000. What is the most likely missing item in final profit distribution?
Class 12 · Accountancy
→In the appropriation account, net profit of Rs 380000 and interest on drawings of Rs 22000 are shown on the credit side. Total debit items amount to Rs 150000. The remaining profit is to be divided in the ratio 4:3:2. What is the second partner's share?
Class 12 · Accountancy
→Interest on capital for A and B is Rs 63000 and Rs 42000 respectively. Available profit is Rs 84000. How much proportionate interest will A receive?
Class 12 · Accountancy
→A deficiency of Rs 25,000 in C's guaranteed share has been met by the firm. What will be the effect on the final profit shares of A and B?
Class 12 · Accountancy
→A B C share profits equally. Total profit is Rs 210000. B gets salary Rs 45000 and C has minimum guarantee Rs 80000. What is Cs deficiency?
Class 12 · Accountancy
→The deed says interest on capital will be allowed as expense before profit. If net loss is Rs 70000 and interest on capital is Rs 35000 what will be total loss?
Class 12 · Accountancy
→There is loss of Rs 80000 and interest on drawings is Rs 12500. There is no other appropriation. What will be net loss to be distributed?
Class 12 · Accountancy
→There is loss in the year but interest on drawings is clearly provided in the deed. How will it be treated in appropriation account?
Class 12 · Accountancy
→Profit of Rs 2,10,000 was wrongly shared in the ratio 4:2:1 instead of the correct ratio 3:3:1. How much more will B receive on adjustment?
Class 12 · Accountancy
→Total profit is Rs 480000. First A gets salary Rs 70000 and B gets commission Rs 50000. Remaining profit is shared in ratio five to four to three. What is the third partners share?
Class 12 · Accountancy
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