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Class 12 · Accountancy · Easy
→If an omitted expense of a prior period is discovered, what effect does it have on the partners' accounts?
Class 12 · Accountancy · Easy
→If an omitted income is discovered in a partnership, what effect will it have on the partners' accounts?
Class 12 · Accountancy · Easy
→If the firm paid a partner's personal expense and it was not recorded, what is the correct adjustment?
Class 12 · Accountancy · Easy
→If a partner paid a firm expense from personal funds and it was not recorded in the books, what entry will be made in the partner's account?
Class 12 · Accountancy · Easy
→If a partner's drawings were recorded in the books in excess, what entry will correct his account?
Class 12 · Accountancy · Easy
→If a partner’s drawings were recorded at a lower amount, what will be the correction in his account?
Class 12 · Accountancy · Easy
→If partner commission was overallowed what will be done to the concerned partners account in correction?
Class 12 · Accountancy · Easy
→If a partner's salary was due but not recorded, which account should be credited in the adjustment?
Class 12 · Accountancy · Easy
→If charging interest on drawings was omitted, which account will be debited?
Class 12 · Accountancy · Easy
→If interest on capital has been omitted (not recorded), which account will be credited?
Class 12 · Accountancy · Easy
→If B has been paid excess profit by mistake, on which side will B's account appear in the adjustment entry?
Class 12 · Accountancy · Easy
→If partner A has been mistakenly allotted less profit, on which side will A's account appear in the adjustment entry?
Class 12 · Accountancy · Easy
→If last year profit was distributed in a wrong ratio what will be the main basis of correction?
Class 12 · Accountancy · Easy
→In adjustment questions, what is the easiest way to check the final answer?
Class 12 · Accountancy · Easy
→If old accounts are not to be reopened what type of entry is suitable?
Class 12 · Accountancy · Easy
→If a partner has no difference in adjustment table will his account appear in final entry?
Class 12 · Accountancy · Easy
→Which amounts should be written first in an adjustment table?
Class 12 · Accountancy · Easy
→Why do total debits and total credits remain equal when profit is redistributed among partners?
Class 12 · Accountancy · Easy
→If omitted income or expense changes total profit what effect may it have on total capital?
Class 12 · Accountancy · Easy
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