
IOC and type of capital a/cs
Quiz
•
Other
•
12th Grade
•
Practice Problem
•
Hard
Garima Pandey
FREE Resource
Enhance your content in a minute
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rani and Shyam is partner in a firm. They are entitled to interest on their capital but the net profit was not sufficient for paying his interest, then the net profit will be disturbed among partner in
1: 2
Profit Sharing Ratio
Appropriation Ratio
Equally
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
X and Y are partners in the ratio of 3: 2. Their capitals are ₹2,00,000 and ₹1,00,000 respectively. Interest on capitals is allowed @ 8% p.a. Firm incurred a loss of ₹60,000 for the year ended 31st March 2019. Interest on Capital will be:
X ₹16,000; Y ₹8,000
X ₹8,000; Y ₹4,000
X ₹14,400; Y ₹9,600
No Interest will be allowed
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ram and Mohan were partners with fixed capitals of Rs. 3,00,000 and Rs. 2,00,000 respectively. As per their partnership deed, interest on capital was allowed @ 10% p.a. Net profit for the year ended 31st March, 2022 was Rs. 30,000. The amount of interest on capital was credited to each partner’s current account for the year ended 31st March, 2022 was:
Ram Rs. 30,000 and Mohan Rs. 20,000
Ram Rs. 20,000 and Mohan Rs. 10,000
Ram Rs. 18,000 and Mohan Rs. 12,000
Ram Rs. 30,000 and Mohal Nil
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate interest payable on capital to Saloni (a partner) during the financial year 2019–2020.
Saloni's capital accounts as on April 01. 2019 showed a balance of Rs. 5,00,000. On July 01, 2019, Saloni introduced additional capital of Rs. 1,00,000. On October 01, Saloni withdrew Rs. 2,00,000 from her capital.
Interest is allowed @ 12% p.a.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Josh and Krish are partners sharing profits and losses in the ratio of 3:1.
Josh's capital at the end of the financial year 2015-2016 was Rs. 1,50,000.
During the year 2015-2016, Josh’s drawings were Rs. 20,000 which had been duly debited to partner’s capital accounts.
Profit before charging interest on capital for the year was Rs. 16,000 and the same had also been credited in their profit-sharing ratio.
Josh had brought additional capital of Rs. 18,000 on October 1, 2015
Calculate interest on capital @ 10% p.a. for the year 2015-2016.
Rs. 14,900
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under fixed capital system, there are _______ accounts
1
2
Either 1 or 2
none of these
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Depreciation-E-1
Quiz
•
12th Grade
10 questions
Animal Crossing New Horizons!
Quiz
•
3rd Grade - University
10 questions
WW2 night witches quiz
Quiz
•
4th - 12th Grade
10 questions
Toán 4: Bài 36: Luyện tập chung
Quiz
•
4th Grade - University
10 questions
Unit 2 - Post-test
Quiz
•
10th - 12th Grade
10 questions
ilmu resep 1
Quiz
•
1st Grade - University
10 questions
PERSIAPAN UAS (part 1)
Quiz
•
9th - 12th Grade
10 questions
คณิตศาสตร์ ชั้นประถมศึกษาปีที่ 6 จำนวนนับ
Quiz
•
12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for Other
20 questions
-AR -ER -IR present tense
Quiz
•
10th - 12th Grade
15 questions
Making Inferences
Quiz
•
7th - 12th Grade
12 questions
Add and Subtract Polynomials
Quiz
•
9th - 12th Grade
7 questions
How James Brown Invented Funk
Interactive video
•
10th Grade - University
15 questions
Atomic Habits: Career Habits
Lesson
•
9th - 12th Grade
20 questions
Banking
Quiz
•
9th - 12th Grade
15 questions
Exponential Growth and Decay Word Problems Practice
Quiz
•
9th - 12th Grade
18 questions
AP Bio Insta-Review Topic 6.1*: DNA & RNA Structure
Quiz
•
9th - 12th Grade
