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Class 12 · Accountancy · Hard
→A’s current account begins with a credit balance of ₹9,000. During the year, interest on capital is ₹7,500, commission is ₹5,500, drawings are ₹20,000, and A’s share of loss is ₹3,000. What is the closing current-account balance?
Class 12 · Accountancy · Expert
→Under fluctuating capital method As opening capital is Rs 110000. He brought additional capital of Rs 30000 after six months salary is Rs 12000 profit share is Rs 21000 drawings are Rs 14000 and interest on drawings is Rs 1600. What is closing capital?
Class 12 · Accountancy · Expert
→Under fixed capital method As capital is Rs 150000 and current account has Rs 12000 debit balance. During the year A brought additional capital of Rs 25000 received salary of Rs 16000 and made drawings of Rs 9000. What is As net closing position?
Class 12 · Accountancy · Hard
→Which matching is most useful in an advanced capital accounts question?
Class 12 · Accountancy · Hard
→In a hard capital account question if additional capital is given with date but interest calculation is not asked how is the amount recorded in capital account?
Class 12 · Accountancy · Hard
→Under fluctuating capital method capital account has debit balance but it is shown on liabilities side. What presentation is correct?
Class 12 · Accountancy · Hard
→If under fixed capital method balances of capital account and current account are combined and shown as one capital balance what is the risk?
Class 12 · Accountancy · Hard
→A contributed building as capital and firm also accepted outstanding tax on building. What will be deducted while finding net credit to capital account?
Class 12 · Accountancy · Hard
→If opening debit balance in capital account is wrongly written as credit balance what type of error occurs?
Class 12 · Accountancy · Hard
→Under fixed capital method opening credit balance in current account was wrongly treated as debit balance. Amount is six thousand rupees. What is total effect on closing balance?
Class 12 · Accountancy · Hard
→If interest on capital five thousand rupees was credited twice and interest on drawings two thousand rupees was omitted how much is capital overstated in total?
Class 12 · Accountancy · Hard
→Under fluctuating capital method A closing capital was wrongly calculated as one lakh rupees. Later it was found that drawings of five thousand rupees were deducted twice. What is correct capital?
Class 12 · Accountancy · Hard
→If a partners capital is more than required ratio and firm cannot return cash how may the excess be shown?
Class 12 · Accountancy · Hard
→If a partner has capital deficiency in required ratio and cannot bring cash how may the deficiency be shown?
Class 12 · Accountancy · Hard
→A adjusted capital is one lakh rupees and B adjusted capital is sixty thousand rupees. Profit ratio is three to two. Taking A capital as base what is B deficiency or excess?
Class 12 · Accountancy · Hard
→If capital accounts must be maintained in a fixed ratio as per deed when is capital adjustment done after revaluation?
Class 12 · Accountancy · Hard
→Under fixed capital method revaluation loss should be debited to current account but was debited to capital account. What is correct correction?
Class 12 · Accountancy · Hard
→Under fluctuating capital method A capital was credited with profit share ten thousand rupees and revaluation profit four thousand rupees. If only profit share should have been recorded how much is capital overstated?
Class 12 · Accountancy · Hard
→Under fixed capital method A capital is fifty thousand and current account credit ten thousand. B capital is forty thousand and current account debit five thousand. What is net partners claim?
Class 12 · Accountancy · Hard
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