Question Answers: NCERT Class 12 Accountancy
Welcome to the Chapter - , Class 12 Accountancy - NCERT Solutions page. Here, we provide detailed question answers for Chapter - .The page is designed to help students gain a thorough understanding of the concepts related to natural resources, their classification, and sustainable development.
Our solutions explain each answer in a simple and comprehensive way, making it easier for students to grasp key topics and excel in their exams. By going through these question answers, you can strengthen your foundation and improve your performance in Class 12 Accountancy. Whether you're revising or preparing for tests, this chapter-wise guide will serve as an invaluable resource.
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Popular Questions of Class 12 Accountancy
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What is Capital Fund? How is it calculated?
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What is sacrificing ratio? Why is it calculated?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Why there is need for the revaluation of assets and liabilities on the admission of a partner?
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What is subscription? How is it calculated?
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List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating. - Q:-
Why is Profit and Loss Adjustment Account prepared? Explain.
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If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?
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Why it is considered desirable to make the partnership agreement in writing.
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On what occasions sacrificing ratio is used?
Recently Viewed Questions of Class 12 Accountancy
- Q:-
What is Capital Fund? How is it calculated?
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on total amount withdrawn will be calculated?
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Define Partnership Deed.
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Why is Profit and Loss Adjustment Account prepared? Explain.
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On what account realisation account differs from revaluation account.
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List the items which may be debited or credited in capital accounts of the partners when:
(i) Capitals are fixed.
(ii) Capital are fluctuating. - Q:-
State the meaning of Income and Expenditure Account.
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Rani and Suman are in partnership with fixed capitals of Rs, 80,000 and Rs.60,000, respectively. During the year 2015-16, Rani withdrew Rs. 10,000 from her capital and Suman Rs. 15,000. Profits before charging interest on capital was Rs. 50,000. Rani and Suman shared profits in the ratio of 3:2. Calculate the amounts of interest on their capitals @ 12% p.a. for the year ended March 31, 2016.
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Reproduce the format of Realisation Account.
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What is meant by partnership? Explain its chief characteristics? Explain.
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