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Class 12 · Accountancy
→If the deed gives A Rs 20000 salary and one third share in remaining profit. Total profit is Rs 95000. What is As total claim?
Class 12 · Accountancy
→The deed says interest on loan and then interest on capital are to be considered before profit distribution. Which one will first appear like an expense?
Class 12 · Accountancy
→If the deed provides interest on capital up to the date of death of a partner, up to what period will interest be calculated?
Class 12 · Accountancy
→The partnership deed explicitly states that the firm will pay a partner's personal tax and treat it as drawings. On payment, which account should be debited?
Class 12 · Accountancy
→If the partnership deed explicitly states a partner will receive commission on 'profit before tax', on which profit figure should the commission be calculated?
Class 12 · Accountancy
→The deed shows A and B capitals as Rs 70000 and Rs 30000 but does not state profit ratio. If the deed is silent about profit ratio, how will profit be shared?
Class 12 · Accountancy
→If the deed clearly says partner salary is an appropriation of profit, what is its normal treatment in a loss year?
Class 12 · Accountancy
→The deed allows partner A to be reimbursed training expense. If it was for training firms employees, what is its nature?
Class 12 · Accountancy
→If the deed gives equal voting rights but unequal profit ratio, decisions will be based on what?
Class 12 · Accountancy
→The deed gives A annual travelling allowance of Rs 12000. If A served for eight months, what is the proportionate allowance?
Class 12 · Accountancy
→If the deed requires a partner to bring income earned by using firm connection into the firm, on which income will it apply?
Class 12 · Accountancy
→The deed says no partner will make credit sales beyond the firms approved limit. This provision relates to what?
Class 12 · Accountancy
→If the deed requires written notice before reducing capital, whose interest does it protect?
Class 12 · Accountancy
→The partnership deed grants A a 2% commission on sales. If total sales are Rs 500,000, what is A's commission?
Class 12 · Accountancy
→If the deed requires insurance premium to be deducted before firm profit and the insurance is for firm asset, what type of item is it?
Class 12 · Accountancy
→The deed allows equal drawings at the end of each quarter. What average period is generally taken?
Class 12 · Accountancy
→The deed allows equal drawings at the beginning of each quarter. What average period is generally taken?
Class 12 · Accountancy
→If the deed says profit till date of death will be based on last years profit, what is needed?
Class 12 · Accountancy
→The deed says old profits and losses will be distributed among old partners before admission of a new partner. Which principle does this show?
Class 12 · Accountancy
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