Accountancy MCQ – Class 12 – Chapter 2 – Fundamental of Partnership – Part 5

1. Ajay is a partner in a firm. He withdrew ₹2,000 per month on the last day of every month during the year ended 31st March, 2019. If interest on drawings is charged @ 9% p.a. the interest charged will be :

2. Anu and Tanu are equal partners with fixed capitals of ₹2,00,000 and ₹1,00,000 respectively. After closing the accounts for the year ending 31st – March, 2019 it was discovered that interest on capitals @ 8% p.a. was omitted to be provided. In the adjusting entry :

3. Charulata is a partner in a firm. She withdrew ₹10,000 in each quarter during the year ended 31st March, 2019. Interest on her drawings @ 9% p.a. will be:

4. Sony and Romy are equal partners with fixed capitals of ₹4,00,000 and ₹3,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @ 8% instead of 10% p.a. In the adjusting entry

5. A partner withdraws from firm ₹7,000 at the end of each month. At the rate of 6% per annum total interest will be :

6. Charulata is a partner in a firm. She withdrew ₹10,000 in each quarter during the year ended 31st March, 2019. Interest on her drawings @ 9% p.a. will be:

7. Z is a partner in a firm. He withdrew regularly ?2,000 every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

8. A partner draws ₹2,000 each on 1st April 2018, 1st July 2018, 1st October, 2018 and 1st January 2019. For the year ended 31st March, 2019 interest on drawings @ 8% per annum will be :

9. X is a partner in a firm. He withdrew regularly ₹1,000 at the beginning of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

10. If a fixed amount is withdrawn by a partner on the last day of each quarter, interest on the total amount is charged for ……………… months

11. Y is a partner in a firm. He withdrew regularly ₹3,000 at the end of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 10% p.a. the interest charged will be :

₹375
(B) ₹450
(C) ₹525
(D) ₹900

₹375
(B) ₹450
(C) ₹525
(D) ₹900

₹375
(B) ₹450
(C) ₹525
(D) ₹900

12. If fixed amount is withdrawn by a partner on the first day of each quarter, interest on the total amount is charged for …………….. months

13. A and B sharing profits in the ratio of 7 : 3 have fixed capitals of ₹2,00,000 and ₹1,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 12% instead of 10% p.a. In the adjusting entry :

14. Asha and Vipasha are equal partners with fixed capitals of ₹5,00,000 and ₹2,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 6% instead of 5% p.a. In the adjusting entry :

15. P, Q and R arc equal partners with fixed capitals of ₹5,00,000, ₹4,00,000 and ₹3,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 7% instead of 9% p.a. In the adjusting entry :

16. A partner withdraws ₹8,000 each on 1st April and 1st Oct. Interest on his drawings @ 6% p.a. on 31 st March will be :

17. Anuradha is a partner in a firm. She withdrew ₹6,000 in the beginning of each quarter during the year ended 31st March, 2019. Interest on her drawings @ 10% p.a. will be :

18. Bipasa is a partner in a firm. She withdrew ₹6,000 at the end of each quarter during the year ended 31st March, 2019. Interest on her drawings @ 10% p.a. will be :

19. Ajay is a partner in a firm. He withdrew ₹2,000 per month on the last day of every month during the year ended 31st March, 2019. If interest on drawings is charged @ 9% p.a. the interest charged will be :

20. Z is a partner in a firm. He withdrew regularly ?2,000 every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

21. If equal amount is withdrawn by a partner in the beginning of each month during a period of 6 months, interest on the total amount will be charged for ……………… months

22. If equal amount is withdrawn by a partner in each month during a period of 6 months, interest on the total amount will be charged for …………… months

23. If a fixed amount is withdrawn by a partner in each quarter, interest on the total amount is charged for ……………….. months

24. P and Q sharing profits in the ratio of 2 : 1 have fixed capitals of ₹90,000 and f60,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals was provided @ 6% instead of 8% p.a. In the adjusting entry :

25. If equal amount is withdrawn by a partner in the end of each month during a period of 6 months, interest on the total amount will be charged for ………………… months

26. A partner draws ₹2,000 each on 1st April 2018, 1st July 2018, 1st October, 2018 and 1st January 2019. For the year ended 31st March, 2019 interest on drawings @ 8% per annum will be :

27. X, Y and Z are equal partners with fixed capitals of ₹2,00,000, ₹3,00,000 and ?4,00,000 respectively. After closing the accounts for the year ending 31st March 2019 it was discovered that interest on capitals @ 8% p.a. was omitted to be provided. In the adjusting entry :

28. Xand 7are partners in the ratio of 3 : 2. Their fixed capitals are ₹2,00,000 and ₹1,00,000 respectively. After clsoing the accounts for the year ending 31st March 2019, it was discovered that interest on capital was allowed @ 12% instead of 10% per annum. By how much amount A will be debited/credited in the adjustment entry :

29. Sushil is a partner in a firm. He withdrew ₹4,000 per month in the middle of every month during the year ended 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be :

30. Y is a partner in a firm. He withdrew regularly ₹3,000 at the end of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 10% p.a. the interest charged will be :

₹375
(B) ₹450
(C) ₹525
(D) ₹900

₹375
(B) ₹450
(C) ₹525
(D) ₹900

₹375
(B) ₹450
(C) ₹525
(D) ₹900