Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans The firm with X, Y and Z as partners earned a profit of ₹ 3,00,000 during the year ended 31st March, 2011. 20% of this profit was to be transferred to General Reserve. Pass the necessary Journal entry for the same. 1.25K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans State giving reasons to which account interest on loan by partner is debited and credited if partner’s capitals are fixed. 750 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans In what way would you deal with rent paid to a partner for the use of his premises by the firm in which he is a partner and why? 1.04K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Saloni and Shrishti are partners sharing profits and losses in the ratio of 2:3 with capitals of ₹ 20,000 and ₹ 10,000 respectively. The partnership deed provides for interest on capital @ 6% p.a. and the profit for the year was ₹ 1,500. State giving reason, how much interest on capital will be allowed. 1.55K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans How will a firm deal with a situation when its partnership deed provides for interest on capital, but the profit earned by it is not enough to do so, at the rate mentioned in the deed? 872 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Give the adjusting entry for interest on capital allowed to a partner, when the firm followed the fixed capital method. 836 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans What is Interest on Capital? Give one reason why it is allowed to partners. 985 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Is there any situation where interest allowed on capital is debited to Profit and Loss Account? 851 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Interest allowed on capital is debited to Profit and Loss Appropriation Account and not to Profit and Loss Account. Why? 830 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Give one difference between Partner’s Capital Account and Current Account. 878 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Give two differences between Fixed and Fluctuating Capital Accounts 836 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans List two instances when a partner’s fixed capital may change. 841 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans State two differences between interest on capital allowed to partners and interest on drawings charged from partners. 1.13K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans List any two items which may appear on the credit side of a Partner’s Fixed Capital Account. 839 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans State any three items shown on the debit side of the Capital Account of a partner when the capitals are fluctuating. 859 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Mittal & Sons earned a profit of ₹ 2,75,000 during the year ended 31st March, 2016. 10% of this profit was to be transferred to Investment Fluctuation Reserve. Pass the necessary Journal entry for the same. 2.08K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans List any two items shown on the credit side of Profit and Loss Appropriation Account. 898 viewsAnurag Pathak Changed status to publish April 9, 2023Accountancy Class 12th 0 Votes 1 Ans List any two items shown on the debit side of Profit & Loss Appropriation Account. 848 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Why is Profit and Loss Appropriation Account prepared by the Partnership Firm? 979 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans Give any two points of difference between Profit and Loss Appropriation Account and Profit and Loss Account. 836 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans How is interest on drawings on unequal amounts drawn at unequal intervals calculated? 956 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans How is interest on drawings of equal amounts drawn on the last day of every month calculated? 823 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans How is interest on drawings of equal amounts drawn on the 1st day of every month calculated? 845 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is meant by Divisible Profit? 1.06K viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th 0 Votes 1 Ans What is meant by Net Profit? 906 viewsAnurag Pathak Changed status to publish April 9, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12th « Previous 1 2 … 160 161 162 163 Next » Question and answer is powered by anspress.net
