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Class 12 · Accountancy
→Under the fluctuating capital method, drawings are debited to which account?
Class 12 · Accountancy
→Under fixed capital method partner salary is credited to which account?
Class 12 · Accountancy
→Under fluctuating capital method where is share of profit credited?
Class 12 · Accountancy
→Under fixed capital method which change is generally recorded in the capital account?
Class 12 · Accountancy
→For whom are capital accounts generally prepared in partnership?
Class 12 · Accountancy
→What does a partners capital account mainly show?
Class 12 · Accountancy
→If a deed clause conflicts with a general partnership rule, which will be applied first in accounts?
Class 12 · Accountancy
→The deed says no partner may take a long term loan on behalf of the firm without consent of all. This restricts which decision?
Class 12 · Accountancy
→If the deed provides that a partner's salary will be reduced for taking long leave without consent, this provision relates to what?
Class 12 · Accountancy
→The deed provides interest charge on deficiency in partners capital. This interest will be a burden on whom?
Class 12 · Accountancy
→If the deed requires every partner to sign the annual accounts report, what is the main purpose?
Class 12 · Accountancy
→The deed gives B a firm guarantee of minimum profit Rs 15000. Total profit is Rs 60000 and Bs normal share is Rs 12000. By how much will profit available to other partners reduce?
Class 12 · Accountancy
→If the deed prohibits partners from taking personal loans in the firms name, breach of this clause will be what type of issue?
Class 12 · Accountancy
→The deed says A will get interest on capital only if minimum capital is maintained. As capital is below the limit. What will happen?
Class 12 · Accountancy
→If the deed states priority for paying liabilities before distributing assets on dissolution, this relates to which process?
Class 12 · Accountancy
→The deed gives A an annual salary of Rs 36,000 and B a commission of 10% on profit after salary. Profit before providing the salary is Rs 136,000. What is B's commission?
Class 12 · Accountancy
→If the deed provides Rs 12000 interest on capital and Rs 18000 salary but available profit is Rs 24000 and no order is given, what is the safe treatment?
Class 12 · Accountancy
→The deed has a clause for changing profit ratio on retirement. From which document will the continuing partners ratio be primarily decided?
Class 12 · Accountancy
→If the deed gives both old ratio and new ratio, from what will sacrifice ratio be calculated on admission of a new partner?
Class 12 · Accountancy
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