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Class 12 · Accountancy · Hard
→Under the fluctuating capital method, partner A's capital is Rs 1,00,000. In a goodwill adjustment A's capital account is first debited by Rs 15,000 and later credited by Rs 15,000 as profit share. What is the net effect on A's capital?
Class 12 · Accountancy · Hard
→A gave a loan to the firm, but the amount was credited to A's capital account. If the capital ratio is calculated later, what precaution is necessary?
Class 12 · Accountancy · Medium
→If a partner’s personal investment is recorded by the firm as a partner’s loan instead of capital, what principal classification difference results?
Class 12 · Accountancy · Medium
→Under the fixed-capital method, A’s current account has a credit balance. If this amount is paid through the bank, what is the effect on the balance-sheet liability?
Class 12 · Accountancy · Hard
→If debit balance of drawings account is not closed at year end what may be the effect on capital account?
Class 12 · Accountancy · Hard
→Under fixed capital method drawings and interest on drawings are both debited in current account. What is the basic difference between them?
Class 12 · Accountancy · Hard
→Under fluctuating capital method A interest on capital is eight thousand rupees and salary is twelve thousand rupees. If both are omitted how much will capital be understated?
Class 12 · Accountancy · Medium
→If the firm pays a partner’s personal expense but records it as a Profit and Loss expense, what effect on the partner’s capital or current account has been omitted?
Class 12 · Accountancy · Hard
→Commission was due to a partner but not paid. Under fluctuating capital method why will it increase capital?
Class 12 · Accountancy · Hard
→Under fluctuating capital method partner salary was credited to capital account when due and debited again on payment. What is the net effect?
Class 12 · Accountancy · Hard
→Under fixed capital method A capital account is one lakh rupees and no permanent capital change occurred. Yet current account has a large credit balance. What will be closing capital account balance?
Class 12 · Accountancy · Hard
→Under fluctuating capital method which sequence reduces errors while finding closing capital?
Class 12 · Accountancy · Medium
→If the capital account has a credit balance and the current account has a debit balance, what is the correct analysis of the firm’s financial position?
Class 12 · Accountancy · Hard
→Under fixed capital method A current account has debit balance. The partner says treat it as capital and allow interest. Why may this be wrong?
Class 12 · Accountancy · Hard
→A B and C actual capitals are one lakh thirty thousand eighty thousand and thirty thousand rupees. Target ratio is four to three to one and total capital remains same. What should A do?
Class 12 · Accountancy · Hard
→A B and C actual capitals are one lakh thirty thousand eighty thousand and thirty thousand rupees. Target ratio is four to three to one and total capital remains same. Who has deficiency?
Class 12 · Accountancy · Hard
→Total capital of three partners is two lakh forty thousand rupees. Target ratio is four to three to one. What is the target capital of the second partner?
Class 12 · Accountancy · Medium
→A and B have capitals of Rs 1,10,000 and Rs 70,000 respectively. The firm wants equal capitals while keeping total capital unchanged. Which adjustment is correct?
Class 12 · Accountancy · Hard
→A and B capitals are one lakh ten thousand and seventy thousand rupees respectively. They must keep equal capital and total capital must not change. What will be correct target capital?
Class 12 · Accountancy · Hard
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