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Class 12 · Accountancy
→Under fluctuating capital method closing capital balances of three partners are Rs 60000 credit Rs 30000 credit and Rs 10000 debit. What is total net capital?
Class 12 · Accountancy
→Under fixed capital method A and B capitals are Rs 100000 and Rs 80000. Current accounts are A Rs 5000 credit and B Rs 7000 debit. What is total net partners claim?
Class 12 · Accountancy
→If a partners loan is wrongly added to capital account what is the main presentation error?
Class 12 · Accountancy
→As capital account is Rs 220000 credit and current account is Rs 18000 debit. If the firm also separately owes A a loan of Rs 20000 what is total liability towards A?
Class 12 · Accountancy
→If return of capital Rs 30000 is treated as normal drawings and debited to current account under fixed capital method what is the error?
Class 12 · Accountancy
→A brought a personal asset into the firm as capital whose correct value was Rs 60000 but it was recorded at Rs 50000. By how much will As capital be understated?
Class 12 · Accountancy
→If a partner paid Rs 12000 advertisement expense for the firm from personal account and it was treated as drawings what is the correction?
Class 12 · Accountancy
→Under fixed capital method personal expense of Rs 7000 was wrongly treated as firm expense and not recorded in partners account. What is the correct capital treatment?
Class 12 · Accountancy
→Under the fluctuating capital method, a partner's salary has been omitted by mistake. If the salary amount is Rs 12,000, what is the effect on the closing capital?
Class 12 · Accountancy
→Under fixed capital method profit share was recorded in capital account and also in current account. What is the main effect?
Class 12 · Accountancy
→Three partners capitals should be in ratio one to two to three. Total capital is Rs 480000 and first partners actual capital is Rs 90000. What should the first partner do?
Class 12 · Accountancy
→A's capital is Rs 180000 and capitals are to be maintained in the profit-sharing ratio 2:3. Taking A's capital as the base, what should be B's required capital?
Class 12 · Accountancy
→A and B's capitals are to be in profit-sharing ratio 5 : 3. If the total capital is Rs 320,000, what is B's required capital?
Class 12 · Accountancy
→Bs opening capital is Rs 95000. Closing capital is Rs 108000 drawings Rs 12000 salary Rs 5000 and additional capital Rs 10000. What was the profit share?
Class 12 · Accountancy
→As closing capital is Rs 130000. Opening capital is Rs 100000 additional capital Rs 25000 profit share Rs 15000 and interest on drawings Rs 2000. What were drawings?
Class 12 · Accountancy
→Interest on drawings of Rs 3200 was credited to partners account whereas correct treatment was debit. By how much will partners balance be overstated?
Class 12 · Accountancy
→Under fluctuating capital method interest on As capital of Rs 8000 was wrongly debited. What is the wrong effect on capital balance?
Class 12 · Accountancy
→A withdrew Rs 15000 in May and Rs 25000 in January. The accounting year ends in March and interest rate is ten percent. What is interest on drawings?
Class 12 · Accountancy
→Equal monthly drawings of Rs 4000 are made in the middle of every month and interest rate is nine percent per annum. What is interest on drawings?
Class 12 · Accountancy
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