Introduction to Partnership and Partnership Final Accounts — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Income received in advance is shown on _____________ side of the Balance Sheet.

Anuj and Eeshan are two partners sharing profits and losses in the ratio of 3 : 2. They decided to admit Aaroh for 1/5th share, the new profit sharing ratio will be __________

When the acceptor accepts the bill with certain conditions, the acceptance is called _____________ Acceptance.

When a bill is drawn for 2 months after date on 3rd Jan. 2020, its due date will be ______________

A bill drawn on 12th June, 2020 at two months would be payable on _____________

If the articles are silent regarding interest on Calls-in-Advance, the minimum rate of interest to be charged is ____________ p.a.

Outstanding subscription at the end of the Accounting Year represents ___________

_____________ means payment of the bill before due date.