Class 12 Exam  >  Class 12 Notes  >  Question with Solution: Accountancy - Class 12

Question with Solution: Accountancy - Class 12 PDF Download

X Y and Z are partners in a firm their capitals as on April 1st 2016 with 500000, 400000,and 300000 respectively on July 1 2013 they introduced for the capitals of 100000,80000 and 50000 respectively on February 1 2014 why y withdrew 15000 from its capital interest is to be allowed on 8% per annum on the capital is compute interest on capital for the year ending March 31st 2017?
Ref: https://edurev.in/question/619256/X-Y-and-Z-are-partners-in-a-firm-their-capitals-as-on-April-1st-2016-with-500000-400000-and-300000-

In this case, Interest on Capital would be calculated on the basis of time. 
 
Interest on X's Capital:
April - June- Question with Solution: Accountancy - Class 12
July - Mar- Question with Solution: Accountancy - Class 12
Total IOC: Rs 46,000 
 
 
Interest on Y's Capital:
April - June- Question with Solution: Accountancy - Class 12
July - Jan- Question with Solution: Accountancy - Class 12
Feb - Mar- Question with Solution: Accountancy - Class 12
Total IOC: Rs 36,600 
 
 
Interest on Z's Capital
 
April - June- Question with Solution: Accountancy - Class 12
July - Mar- Question with Solution: Accountancy - Class 12
Total IOC: Rs 27,000
The document Question with Solution: Accountancy - Class 12 is a part of Class 12 category.
All you need of Class 12 at this link: Class 12

FAQs on Question with Solution: Accountancy - Class 12

1. What is accountancy and why is it important in Class 12?
Ans. Accountancy is a subject that deals with the recording, analyzing, and reporting of financial transactions. In Class 12, it is important because it provides students with a foundation in understanding the financial aspects of a business, which is crucial for pursuing careers in finance and accounting.
2. What are the major topics covered in the Class 12 Accountancy syllabus?
Ans. The major topics covered in the Class 12 Accountancy syllabus include partnership accounts, company accounts, financial statements analysis, cash flow statement, and accounting for not-for-profit organizations.
3. How can I improve my understanding of accountancy concepts in Class 12?
Ans. To improve your understanding of accountancy concepts in Class 12, you can practice solving different types of problems and exercises, refer to textbooks and study materials, seek guidance from your teacher or tutor, and participate in group discussions or study groups.
4. What career options are available for students studying accountancy in Class 12?
Ans. Students studying accountancy in Class 12 can pursue various career options such as becoming a chartered accountant, financial analyst, tax consultant, auditor, or work in the banking and finance sector. Accountancy provides a strong foundation for these career paths.
5. Are there any online resources available for studying accountancy in Class 12?
Ans. Yes, there are several online resources available for studying accountancy in Class 12. These include online tutorials, video lectures, practice tests, and study materials on websites, educational platforms, and YouTube channels dedicated to accountancy. These resources can help supplement your classroom learning and provide additional practice and understanding of the subject.
Download as PDF
Explore Courses for Class 12 exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

Exam

,

MCQs

,

Question with Solution: Accountancy - Class 12

,

Previous Year Questions with Solutions

,

Important questions

,

practice quizzes

,

shortcuts and tricks

,

Summary

,

study material

,

mock tests for examination

,

video lectures

,

Extra Questions

,

Semester Notes

,

Question with Solution: Accountancy - Class 12

,

Objective type Questions

,

Viva Questions

,

Sample Paper

,

past year papers

,

ppt

,

Question with Solution: Accountancy - Class 12

,

pdf

,

Free

;