Accounting - Study Mode
[#2896] Interest on non-performing assets should be recognized on . . . . . . . . basis.
Correct Answer
(A) actually received
[#2897] The amount brought in by the proprietor in the business should be credited to:
Correct Answer
(B) capital account
[#2898] Govind, Hari and Pratap are partners. On the retirement of Govind, the goodwill already appears in the balance sheet at Rs. 24,000. The goodwill will be written off by
Correct Answer
(A) Debiting all partner's capital accounts in their old profit-sharing ratio
[#2899] A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires, and his capital after making adjustments for reserves and profits on revaluation is Rs. 2,30,000. A and B agree to pay him Rs. 50,000 in full and final settlement of his claims. The amount of goodwill be
Correct Answer
(C) Rs. 20,000
[#2900] Minority interest includes
Correct Answer
(D) all of the above