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Class 12 · Accountancy
→Under fixed capital method revaluation profit is distributed among partners. If capital accounts are to remain fixed where will this profit be credited?
Class 12 · Accountancy
→Under fluctuating capital method goodwill adjustment debited A by twenty thousand rupees and credited B by twenty thousand rupees. What is effect on total firm capital?
Class 12 · Accountancy
→A partner contributed a personal car to the firm as capital with agreed value two lakh rupees. The firm accepted outstanding loan of fifty thousand rupees on it. What amount will be credited to capital account?
Class 12 · Accountancy
→If a partner brought goods as capital and it was debited to Purchases Account what error will occur in capital account?
Class 12 · Accountancy
→A closing capital is one lakh rupees. It includes additional capital fifteen thousand rupees and salary five thousand rupees and drawings ten thousand rupees were deducted. What was opening capital?
Class 12 · Accountancy
→Under fluctuating capital method A and B closing capitals are ninety thousand and sixty thousand rupees. If profit next year is to be shared in capital ratio what will be the ratio?
Class 12 · Accountancy
→Under fixed capital method A capital is one lakh rupees and B capital is eighty thousand rupees. A current account has debit ten thousand and B current account has credit ten thousand. What capital ratio should be considered?
Class 12 · Accountancy
→If partners current account has debit balance and he deposits cash which account is credited?
Class 12 · Accountancy
→If partners current account has credit balance and it is paid in cash which account is debited?
Class 12 · Accountancy
→Under fixed capital method B current account closing balance is credit twenty thousand rupees. If drawings of four thousand rupees were not recorded what is correct balance?
Class 12 · Accountancy
→Under fluctuating capital method A closing capital is seventy five thousand rupees. If share of profit eleven thousand rupees was omitted what is correct closing capital?
Class 12 · Accountancy
→A interest on capital is five thousand rupees and interest on drawings is three thousand rupees. Both were wrongly credited. Compared with correct position how much will balance be overstated?
Class 12 · Accountancy
→A interest on capital is six thousand rupees and interest on drawings is two thousand rupees. Both were wrongly debited. Compared with correct position how will capital be shown?
Class 12 · Accountancy
→If partners loan is wrongly credited to capital account what presentation error will occur?
Class 12 · Accountancy
→Under fixed capital method if debit balance of current account is adjusted against partners capital what will be the effect?
Class 12 · Accountancy
→Under fluctuating capital method partners capital becomes zero and further drawings remain. How should excess drawings be understood?
Class 12 · Accountancy
→A B and C actual capitals are one lakh forty thousand ninety thousand and seventy thousand rupees. Target ratio is two to two to one and total capital remains same. Which statement is correct?
Class 12 · Accountancy
→A B and C actual capitals are one lakh forty thousand ninety thousand and seventy thousand rupees respectively. They must be maintained in the ratio two to two to one and total capital remains same. Who will withdraw excess capital?
Class 12 · Accountancy
→Total capital of three partners is three lakh rupees and it is to be maintained in the ratio three to two to one. What is target capital of the first partner?
Class 12 · Accountancy
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