What is meant by Cash Flow Statement? (C.B.S.E. 2020, Kolkata, Lucknow) Post category:Accountancy Reading time:1 mins read SOLUTION It is Statement of inflow (Source) and outflows (uses) of cash and cash equivalents during a particular period of time. 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 PostThe Debt Equity ratio of a company is 1: 2. State whether ‘Issue of bonus shares’ will increase, decrease or not change the Debt Equity Ratio. (C.B.S.E. 2019, M.P.; 2020 Mumbai. Chennai) Next PostUnder which accounting standard, Cash flow statement is prepared? You Might Also Like At the time of retirement of a partner, state the condition when there is no need to compute the gaining ratio. September 27, 2022 Anshul and Parul are partners sharing profits in the ratio of 3 : 2. They admit Payal as partner for 1/4th share in profits on 1st April, 2019. Payal brings Rs. 5,00,000 as capital and her share of goodwill by cheque. It was agreed to value goodwill at three years’ purchase of average profit of last four years. August 1, 2022 Harshad and Dhiman are in partnership since 1st April, 2018. No partnership agreement was made. They contributed Rs. 4,00,000 and Rs. 1,00,000 respectively as capital. In addition, Harshad advanced an amount of Rs. 1,00,000 to the firm on 1st October, 2018. Due to long illness, Harshad could not participate in business activities from 1st August, 2018 to 30th September, 2018. Profit for the year ended 31st March, 2019 was Rs. 1,80,000. Dispute has arisen between Harshad and Dhiman. Harshad Claims: (i) He should be given interest @ 10% per annum on capital and loan; (ii) Profit should be distributed in the ratio of capital; Dhiman Claims: (i) Profit should be distributed equally; (ii) He should be allowed Rs. 2,000 p.m. as remuneration for the period he managed the business in the absence of Harshad; (iii) Interest on Capital and loan should be allowed @ 6% p.a. You are required to settle the dispute between Harshad and Dhiman. Also prepare Profit and Loss Appropriation Account. July 20, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
At the time of retirement of a partner, state the condition when there is no need to compute the gaining ratio. September 27, 2022
Anshul and Parul are partners sharing profits in the ratio of 3 : 2. They admit Payal as partner for 1/4th share in profits on 1st April, 2019. Payal brings Rs. 5,00,000 as capital and her share of goodwill by cheque. It was agreed to value goodwill at three years’ purchase of average profit of last four years. August 1, 2022
Harshad and Dhiman are in partnership since 1st April, 2018. No partnership agreement was made. They contributed Rs. 4,00,000 and Rs. 1,00,000 respectively as capital. In addition, Harshad advanced an amount of Rs. 1,00,000 to the firm on 1st October, 2018. Due to long illness, Harshad could not participate in business activities from 1st August, 2018 to 30th September, 2018. Profit for the year ended 31st March, 2019 was Rs. 1,80,000. Dispute has arisen between Harshad and Dhiman. Harshad Claims: (i) He should be given interest @ 10% per annum on capital and loan; (ii) Profit should be distributed in the ratio of capital; Dhiman Claims: (i) Profit should be distributed equally; (ii) He should be allowed Rs. 2,000 p.m. as remuneration for the period he managed the business in the absence of Harshad; (iii) Interest on Capital and loan should be allowed @ 6% p.a. You are required to settle the dispute between Harshad and Dhiman. Also prepare Profit and Loss Appropriation Account. July 20, 2022