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Class 12 · Accountancy · Medium
→If a general reserve is to be created, how will it be adjusted in the Profit and Loss Appropriation Account?
Class 12 · Accountancy · Medium
→If net profit is Rs 90000 interest on capital is Rs 20000 and interest on drawings is Rs 5000 what is distributable profit?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 3:2. After adjustments, the remaining profit is Rs 50,000. What is A’s share?
Class 12 · Accountancy · Medium
→If the partnership deed is silent about interest on drawings, will interest on drawings be charged?
Class 12 · Accountancy · Medium
→If partnership deed is silent about interest on capital what will be done in adjustment?
Class 12 · Accountancy · Medium
→A’s drawings are Rs 15,000 and interest on drawings is Rs 1,200. What total debit will appear in A’s account?
Class 12 · Accountancy · Medium
→If salary Rs 6000 and commission Rs 4000 are payable to A what total credit will appear in As account?
Class 12 · Accountancy · Medium
→Under fluctuating capital method partners share of profit will be credited to which account?
Class 12 · Accountancy · Medium
→Under fixed capital method partner salary will be credited to which account?
Class 12 · Accountancy · Medium
→B withdrew Rs 24000 in the middle of the year and interest rate is twelve percent. What is interest on drawings?
Class 12 · Accountancy · Medium
→If A's capital is Rs 80,000 and interest on capital is fixed at 10% per annum, what amount will be recorded as the adjustment?
Class 12 · Accountancy · Medium
→On which side of the Profit and Loss Appropriation Account is interest on drawings recorded?
Class 12 · Accountancy · Medium
→If interest on capital is to be allowed before distributing profit, which account will be debited?
Class 12 · Accountancy · Easy
→What is the safest first step in solving an adjustment question?
Class 12 · Accountancy · Easy
→If accounts are already closed while correcting an old error what kind of adjustment can be made directly?
Class 12 · Accountancy · Easy
→If an omitted expense is Rs. 8,000 and A and B share profits equally, how much will be debited to B?
Class 12 · Accountancy · Easy
→If omitted income is Rs. 6,000 and A and B share profits equally, how much will be credited to A?
Class 12 · Accountancy · Easy
→If an omitted expense is found what is the effect on total profit in adjustment?
Class 12 · Accountancy · Easy
→In partnership accounts adjustments, if an omitted income is discovered, what is its effect on the total profit?
Class 12 · Accountancy · Easy
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