State whether depreciation charged by a Company will result in inflow, outflow or no flow of Cash. Post category:Accountancy Reading time:1 mins read SOLUTION No Flow. 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 PostState whether the payment of Cash to Trade Payables will result in inflow, outflow’ or no flow of Cash. Next PostClassify the following activities as (i) Operating, (ii) Investing or (iii) Financing in case of a ‘Financial Enterprise’: (a) Proceeds from Sale of Investments; (b) Interest received on Debentures held as Investment You Might Also Like ‘Sangam Woollens Ltd.’, Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from these villages in its newly established factory. The company issued 40,000 Equity Shares of Rs. 10 each and 1,000, 9% Debentures of Rs. 100 each to the vendor for the purchase of machinery of Rs. 5,00,000. Pass necessary Journal entries. July 18, 2022 Mudit, Sudhir and Uday are partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their fixed capital balances are Rs. 4,00,000, Rs. 1,60,000 and Rs. 1,20,000 respectively. Net profit for the year ended 31st March, 2018 distributed amongst the partners was Rs. 1,00,000, without taking into account the following adjustments: (a) Interest on capitals @ 2.5% p.a.; (b) Salary to Mudit Rs. 18,000 p.a. and commission to Uday Rs. 12,000. (c) Mudit was allowed a commission of 6% of divisible profit after charging such commission. Pass a rectifying Journal entry in the books of the firm. Show workings clearly. July 22, 2022 Mention a case where Profit & Loss Appropriation Account will be prepared even if Profit & Loss Account discloses net loss. September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
‘Sangam Woollens Ltd.’, Ludhiana, are the manufacturers and exporters of woollen garments. The company decided to distribute free of cost woollen garments to 10 villages of Lahaul and Spiti District of Himachal Pradesh. The company also decided to employ 50 young persons from these villages in its newly established factory. The company issued 40,000 Equity Shares of Rs. 10 each and 1,000, 9% Debentures of Rs. 100 each to the vendor for the purchase of machinery of Rs. 5,00,000. Pass necessary Journal entries. July 18, 2022
Mudit, Sudhir and Uday are partners in a firm sharing profits in the ratio of 3 : 1 : 1. Their fixed capital balances are Rs. 4,00,000, Rs. 1,60,000 and Rs. 1,20,000 respectively. Net profit for the year ended 31st March, 2018 distributed amongst the partners was Rs. 1,00,000, without taking into account the following adjustments: (a) Interest on capitals @ 2.5% p.a.; (b) Salary to Mudit Rs. 18,000 p.a. and commission to Uday Rs. 12,000. (c) Mudit was allowed a commission of 6% of divisible profit after charging such commission. Pass a rectifying Journal entry in the books of the firm. Show workings clearly. July 22, 2022
Mention a case where Profit & Loss Appropriation Account will be prepared even if Profit & Loss Account discloses net loss. September 26, 2022
