Accounting for ...

A is drawing Rs.1,000 p.m. on the last day of every month. If the rate of interest is 5% p.a., then the total interest chargeable from him in the accounting year will be ____________.

What time would be taken into consideration for calculation of interest on drawings if equal monthly amount is drawn as drawing at the beginning of each month ?

Capital of A, B and C in the beginning was Rs. $$80,000$$, Rs. $$60,000$$ and Rs. $$40,000$$. Profit sharing ratio being $$2:2:1$$. Interest on Capital @$$10$$% p.a to be provided. Net Profit before allowing interest to partners was Rs. $$38,000$$. What will be capital of A at the end of year?

X, Y and Z are partners sharing profits and losses in the ratio $$5:3:2$$. They decide to share the future profits in the ratio $$2:3:5$$. What will be the treatment for workmen compensation fund appearing in the balance sheet on the date if no information is available for the same?

A, B and C are the partners sharing in the ratio $$2:2:1$$. They have taken a Joint Life Policy of 10 years for Rs. $$3,00,000$$. Annual premium is Rs. $$20,000$$. They have been charging annual premium to profit and loss account. At the end of 4 years, when surrender value of Policy is Rs. $$90,000$$, they want to raise policy account in the books. Joint life policy account will be ______________.

A is drawing Rs.500 regularly on the 16th of every month.He will have to pay interest in a year on Rs.6,000 (at the given rate of interest) for a total period of _________________.

A, B and C were partners in a firm sharing profits and losses in theratio of 2 : 2 : 1 respectively with the capital balance of 50,000 for A and B, for C 25,000. B declared to retire from the firm and balance in reserve on the date was 15,000 if goodwill of the firm was valued as 30,000 and profit on revaluation was 7,050, then what amount will be transferred to the loan account of B?

L and M invest Rs 2,00,000 and Rs 1,00,000 respectively in a partnership, and agree to divide profit/loss equally after providing for interest @ 10% per annum on original capital and salaries of Rs 24,000 and Rs 48,000 respectively. How much total amount L would get if the period's net income (before interest and salaries) is Rs 1,78,000 ______________.

On the admission of a new partner, the balance of the profit and loss adjustment account should be transferred to the capital account of_________. 

A retiring partner continues to be liable for obligations incurred after his retirement if: