| 901 |
Under the fixed capital method, where is a partner's share of profit recorded? |
Accountancy/Book Keeping
Fixed and fluctuating capital |
Easy |
| 902 |
How many accounts are maintained for each partner under the fluctuating capital method? |
Accountancy/Book Keeping
Fixed and fluctuating capital |
Easy |
| 903 |
Under the fixed capital method, which item is recorded in the partner's Capital Account? |
Accountancy/Book Keeping
Fixed and fluctuating capital |
Medium |
| 904 |
Capitals are fluctuating. A partner's opening capital is ₹50,000; interest on capital ₹5,000, salary ₹6,000, … |
Accountancy/Book Keeping
Fixed and fluctuating capital |
Medium |
| 905 |
Capitals are fixed. A partner's current account opens with a credit of ₹4,000. During the year he is credited… |
Accountancy/Book Keeping
Fixed and fluctuating capital |
Hard |
| 906 |
Interest on capital is usually allowed to partners in order to |
Accountancy/Book Keeping
Division of profit among partners |
Easy |
| 907 |
A partner withdrew equal amounts at the end of every month for a year. For how many months, on average, is in… |
Accountancy/Book Keeping
Division of profit among partners |
Easy |
| 908 |
A partner's capital on 1 April was ₹2,00,000. He introduced ₹50,000 more on 1 October. The deed allows 10% in… |
Accountancy/Book Keeping
Division of profit among partners |
Medium |
| 909 |
The profit before commission is ₹1,10,000. A partner is entitled to a commission of 10% of net profit after c… |
Accountancy/Book Keeping
Division of profit among partners |
Medium |
| 910 |
A partner withdrew ₹2,000 at the beginning of every month for 12 months. Interest on drawings is charged at 6… |
Accountancy/Book Keeping
Division of profit among partners |
Hard |
| 911 |
Where does interest on drawings appear in the Profit and Loss Appropriation Account? |
Accountancy/Book Keeping
Profit and Loss Appropriation Account |
Easy |
| 912 |
Which of these items is NOT shown in the Profit and Loss Appropriation Account? |
Accountancy/Book Keeping
Profit and Loss Appropriation Account |
Easy |
| 913 |
The Profit and Loss Appropriation Account is mainly prepared to |
Accountancy/Book Keeping
Profit and Loss Appropriation Account |
Medium |
| 914 |
Net profit is ₹90,000. Interest on capital is A ₹6,000 and B ₹4,000, B's salary is ₹12,000 and interest on A'… |
Accountancy/Book Keeping
Profit and Loss Appropriation Account |
Medium |
| 915 |
The deed allows interest on capital of ₹12,000 to P and ₹8,000 to Q as an appropriation of profit. Net profit… |
Accountancy/Book Keeping
Profit and Loss Appropriation Account |
Hard |
| 916 |
C is guaranteed a minimum profit of ₹20,000 by the firm. His actual share works out to ₹24,000. What adjustme… |
Accountancy/Book Keeping
Guarantee of profit to a partner |
Easy |
| 917 |
When a minimum profit is guaranteed to a partner by the firm, who bears the deficiency? |
Accountancy/Book Keeping
Guarantee of profit to a partner |
Easy |
| 918 |
A, B and C share profits 3:2:1. C is guaranteed ₹20,000 by the firm. The profit is ₹90,000. What amount does … |
Accountancy/Book Keeping
Guarantee of profit to a partner |
Medium |
| 919 |
A, B and C share profits 3:2:1. A alone guarantees C a minimum of ₹20,000. The profit is ₹90,000. What does B… |
Accountancy/Book Keeping
Guarantee of profit to a partner |
Medium |
| 920 |
P, Q and R share profits 2:2:1. R is guaranteed ₹30,000, the deficiency being borne by P and Q in the ratio 3… |
Accountancy/Book Keeping
Guarantee of profit to a partner |
Hard |