Past Examination and Sample Paper Solutions| CBSE 2019 C| Class 12| Accounts Solutions@learnwithease

Solution of CBSE 2019C Questions Class 12 Accounts
X and Y are partners in a firm sharing profits and losses in the ratio of 2: 1. Their fixed capitals are Rs.5,00,000 and Rs.3,00,000 respectively. Interest on capital is allowed @ 9% p.a. while interest on drawings is charged @ 12% p.a. X is allowed a salary of Rs.4,000 per month. Interest on Y's loan of Rs.2,00,000 is to be provided @ 6% p.a. During the year ended 31st March, 2019, X's drawings were 60,000 and Y's drawings were Rs.72,000. 5% of the Net Profit is to be transferred to General Reserve. Incomplete Profit & Loss Appropriation Account for the year ended 31st March, 2019 prepared by the firm is given below:
Adjusting Entries
Transfer Entries
Minimum Earnings Guaranteed by Partner
Minimum Guaranteed Profit to Partner
What is the single adjustment entry for Past adjustments
How to calculate Commission payable to partners
How to calculate interest on partner's loan
What provisions will be applicable in absence of agreement to pay interest on loan
How to calculate Interest on Drawings
What is Drawings out of Profit
What is drawings out of capital
How to calculate Interest on Partners Capital
How to calculate Interest on Partners Fixed capital
Journal Entry for Interest on Partners Capital
How to calculate Interest on Partners Fluctuating Capital
How to prepare Partners Capital Account
Two methods of preparing Partners Capital Accounts
Fixed Capital Account Method
Fluctuating Capital Account Method
What is Profit & Loss Appropriation Account
What is the Format of Profit & Loss Appropriation A/c
Journal Entries of Profit & Loss Appropriation Account
Practical Questions Profit & Loss Appropriation Account
When to prepare Profit and Loss Appropriation Account
In case of Loss whether Profit & Loss Appropriation Account is prepared
What is Charge against Profit
What is Appropriation Out of Profit
What is Partnership
Features of Partnership
Characteristics of Partnership
Definition of Partnership
MCQs of Partnership Fundamentals
Solutions of D K Goel 2025
Solutions of T S Grewal 2024
Class 12 Accounts
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