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Class 12 · Accountancy · Medium
→If interest on capital is wrongly credited to the Profit and Loss Appropriation Account, what is the effect on available profit?
Class 12 · Accountancy · Hard
→If interest on drawings is wrongly debited to Profit and Loss Appropriation Account what will be the effect on profit distribution?
Class 12 · Accountancy · Medium
→When interest on drawings is credited to the Profit and Loss Appropriation Account, what happens in the partner's account?
Class 12 · Accountancy · Hard
→The deed says A salary is allowed first and B commission later. Profit is sufficient only for salary. What happens to B commission?
Class 12 · Accountancy · Hard
→Net profit is forty eight thousand rupees. A salary is sixty thousand rupees and deed says salary is payable only to the extent of available profit. What is correct treatment?
Class 12 · Accountancy · Hard
→If debit side of Profit and Loss Appropriation Account exceeds credit side by fifteen thousand rupees after appropriations what does it indicate?
Class 12 · Accountancy · Hard
→A B C profit ratio is two to two to one. C shares only profits and not losses. Final loss is fifty thousand rupees. What is A loss share?
Class 12 · Accountancy · Medium
→The deed is silent, but A's capital is three times B's capital and B manages the business full time. How will profit be shared?
Class 12 · Accountancy · Hard
→A B ratio is three to one. Net profit is forty four thousand rupees. A salary is twelve thousand rupees and interest on drawings is four thousand rupees. What is B final profit share?
Class 12 · Accountancy · Hard
→Net profit is one lakh rupees. A gets commission of ten percent of profit after commission and B gets salary of twenty thousand rupees. Salary is deducted first then commission is calculated. What is A commission?
Class 12 · Accountancy · Hard
→Net profit is fifty thousand rupees. Deed provides interest on capital of sixty thousand rupees and clearly says it is payable irrespective of profit or loss. What is the correct effect?
Class 12 · Accountancy · Hard
→A B C share profit in ratio four to three to three. B is guaranteed fifty thousand rupees by A alone. Total profit is one lakh fifty thousand rupees. What is A final profit?
Class 12 · Accountancy · Hard
→A and B share profit equally. B is guaranteed minimum profit of fifty five thousand rupees by A. Total profit is ninety thousand rupees. What is A final profit?
Class 12 · Accountancy · Hard
→If interest on partner loan is wrongly debited to Profit and Loss Appropriation Account what is the main error?
Class 12 · Accountancy · Hard
→The deed says first create reserve of twenty thousand rupees then A gets ten percent commission on the remaining profit. Profit before reserve is one lakh twenty thousand rupees. What is A commission?
Class 12 · Accountancy · Hard
→The deed requires ten percent of profit to be transferred to reserve and the base is profit before appropriations. Net profit is one lakh fifty thousand rupees and interest on drawings is ten thousand rupees. What is reserve amount?
Class 12 · Accountancy · Hard
→A B share profit in ratio three to two. Net profit is eighty thousand rupees. A salary is thirty thousand rupees and interest on B capital is twenty thousand rupees. How will remaining profit be shared?
Class 12 · Accountancy · Hard
→A B C share profit in ratio three to two to one. C is guaranteed forty thousand rupees and total profit is one lakh twenty thousand rupees. Deficiency is borne by A and B in their ratio. How much will be deducted from A?
Class 12 · Accountancy · Hard
→A B C share profit in ratio two to three to five. C is guaranteed minimum profit of sixty thousand rupees. Total profit is two lakh rupees. What is the deficiency?
Class 12 · Accountancy · Hard
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