List any two items other than cash in hand and cheques in hand that are included in ‘Cash and Cash Equivalents’. (C.B.S.E. 2020, Punjab) Post category:Accountancy Reading time:1 mins read SOLUTION Any Two (i) Treasury Bills (ii) Commercial Paper (iii) Current Investments (iv) Balance with Banks. 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 meant by Cash equivalents? (C.B.S.E. 201.6, 2017, 2019, 2020) Next PostWhat is meant by Operating Activities? (C.B.S.E. 2020, Kerala) You Might Also Like Profit earned by a partnership firm for the year ended 31st March, 2018 were distributed equally between the partners – Pankaj and Anu – without allowing interest on capital. Interest due on capital was Pankaj Rs. 3,000 and Anu – Rs. 1,000. Pass necessary adjustment entry. July 22, 2022 Asgar, Chaman and Dholu are partners in a firm. Their Capital Accounts stood at Rs. 6,00,000; Rs. 5,00,000 and Rs. 4,00,000 respectively on 1st April, 2017. They shared Profits and Losses in the proportion of 4 : 2 : 3. Partners are entitled to interest on capital @ 8% per annum and salary to Chaman and Dholu @ Rs. 7,000 per month and Rs. 10,000 per quarter respectively as per the provision of the Partnership Deed. Dholu’s share of profit (excluding interest on capital but including salary) is guaranteed at a minimum of Rs. 1,10,000 p.a. Any deficiency arising on that account shall be met by Asgar. The profit for the year ended 31st March, 2018 amounted to Rs. 4,24,000. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2018. July 22, 2022 On dissolution, what entry is passed if a partner takes over an asset of the firm Valued Rs. 10,000 at Rs. 6,000? September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Profit earned by a partnership firm for the year ended 31st March, 2018 were distributed equally between the partners – Pankaj and Anu – without allowing interest on capital. Interest due on capital was Pankaj Rs. 3,000 and Anu – Rs. 1,000. Pass necessary adjustment entry. July 22, 2022
Asgar, Chaman and Dholu are partners in a firm. Their Capital Accounts stood at Rs. 6,00,000; Rs. 5,00,000 and Rs. 4,00,000 respectively on 1st April, 2017. They shared Profits and Losses in the proportion of 4 : 2 : 3. Partners are entitled to interest on capital @ 8% per annum and salary to Chaman and Dholu @ Rs. 7,000 per month and Rs. 10,000 per quarter respectively as per the provision of the Partnership Deed. Dholu’s share of profit (excluding interest on capital but including salary) is guaranteed at a minimum of Rs. 1,10,000 p.a. Any deficiency arising on that account shall be met by Asgar. The profit for the year ended 31st March, 2018 amounted to Rs. 4,24,000. Prepare Profit and Loss Appropriation Account for the year ended 31st March, 2018. July 22, 2022
On dissolution, what entry is passed if a partner takes over an asset of the firm Valued Rs. 10,000 at Rs. 6,000? September 27, 2022