What does Average Collection Period show? Post category:Accountancy Reading time:1 mins read SOLUTION Average Collection period or ‘Trade Receivables Velocity’ indicates the average time in which the customers are paying for credit Revenue from Operations. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is the significance of Trade Receivables Turnover Ratio? Next PostWhat is Trade Payables Turnover Ratio? You Might Also Like Moli and Bholi contribute Rs. 20,000 and Rs. 10,000 respectively towards capital. They decide to allow interest on capital @ 6% p.a. Their respective share of profits is 2: 3 and the net profit for the year is Rs. 1,500. Show distribution of profits: (i) where there is no agreement except for interest on capitals; and (ii) where there is an agreement that the interest on capital as a charge. July 21, 2022 Reema and Seema are partners. sharing profits equally. The Partnership Deed provides that both Reema and Seema will get monthly salary of Rs. 15,000 each, Interest on Capital will be allowed @ 5% p.a. and Interest on Drawings will be charged @ 10% p.a. Their capitals were Rs. 5,00,000 each and drawings during the year were Rs. 60,000 each. The firm incurred a loss of Rs. 1,00,000 during the year ended 31st March, 2018. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2018. July 20, 2022 What are preliminary expenses? September 28, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Moli and Bholi contribute Rs. 20,000 and Rs. 10,000 respectively towards capital. They decide to allow interest on capital @ 6% p.a. Their respective share of profits is 2: 3 and the net profit for the year is Rs. 1,500. Show distribution of profits: (i) where there is no agreement except for interest on capitals; and (ii) where there is an agreement that the interest on capital as a charge. July 21, 2022
Reema and Seema are partners. sharing profits equally. The Partnership Deed provides that both Reema and Seema will get monthly salary of Rs. 15,000 each, Interest on Capital will be allowed @ 5% p.a. and Interest on Drawings will be charged @ 10% p.a. Their capitals were Rs. 5,00,000 each and drawings during the year were Rs. 60,000 each. The firm incurred a loss of Rs. 1,00,000 during the year ended 31st March, 2018. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2018. July 20, 2022