What is Working Capital? Post category:Accountancy Reading time:1 mins read SOLUTION Working Capital = Current Assets – Current Liabilities. 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 Working Capital Turnover Ratio? Next PostWhat is meant by ‘Profitability of Business’? You Might Also Like The Balance Sheet of X, Y and Z who share profits and losses in the ratio of 3 : 2 : 1, as on 1st April, 2019 is as follows: August 2, 2022 Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On application Rs. 1 per share, on allotment Rs. 2 per share, on first call Rs. 3 per share and on second and final call Rs. 4 per share. All sums payable on application, allotment and calls were duly received with the following exceptions: (i) A, who held 200 shares, failed to pay the money on allotments and calls.(ii) B, to whom 150 shares were allotted, failed to pay the money on first call and final call.(iii) C, who held 50 shares, did not pay the amount of second and final call.The shares of A, B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%.Pass necessary Journal entries to record these transactions in the books of X Ltd. July 14, 2022 B and C are in partnership sharing profits and losses as 3 : 1. They admit D into the firm, D pays premium of Rs. 15,000 for 1/3rd share of the profits. As between themselves, B and C agree to share future profits and losses equally. Draft Journal entries showing appropriations of the premium money. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
The Balance Sheet of X, Y and Z who share profits and losses in the ratio of 3 : 2 : 1, as on 1st April, 2019 is as follows: August 2, 2022
Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On application Rs. 1 per share, on allotment Rs. 2 per share, on first call Rs. 3 per share and on second and final call Rs. 4 per share. All sums payable on application, allotment and calls were duly received with the following exceptions: (i) A, who held 200 shares, failed to pay the money on allotments and calls.(ii) B, to whom 150 shares were allotted, failed to pay the money on first call and final call.(iii) C, who held 50 shares, did not pay the amount of second and final call.The shares of A, B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%.Pass necessary Journal entries to record these transactions in the books of X Ltd. July 14, 2022
B and C are in partnership sharing profits and losses as 3 : 1. They admit D into the firm, D pays premium of Rs. 15,000 for 1/3rd share of the profits. As between themselves, B and C agree to share future profits and losses equally. Draft Journal entries showing appropriations of the premium money. August 1, 2022
