When is interest received considered as financing activity? Post category:Accountancy Reading time:1 mins read SOLUTION Interest received on Calls-in-arrear by a Company is considered as financing activity.. 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 PostWhen is dividend received considered as operating activity? Next Post“Loans and advances granted’ by a company will be considered, as which type of activity while preparing Cash Flow Statement. (C.B.S.E. 2018, Comptt.) You Might Also Like Following is the Balance Sheet of X and Y as at 31st March, 2019. Z is admitted as a partner on that date when the position of X and Y was: August 2, 2022 A and B are partners sharing profits equally. A drew regularly Rs. 4,000 at the end of every month for six months ended 30th September, 2019. Calculate interest on drawings @ 5% p.a. for a period of six months. July 21, 2022 List any two items that need adjustments in books of accounts of a firm at the time of admission of a partner: – (i)Adjustment for Goodwill: (ii) Adjustment of Accumulated Profits, Reserves and Losses. A, B, C and D were partners in a firm sharing profits in the ratio of 4: 3: 2: 1. E brought Rs. 10,000 for his share of goodwill premium in cash which was correctly recorded in the books by the accountant. The accountant showed goodwill at Rs. 1,00,000 in the books. Was the accountant correct in doing so? Give reason in support of your answer. September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Following is the Balance Sheet of X and Y as at 31st March, 2019. Z is admitted as a partner on that date when the position of X and Y was: August 2, 2022
A and B are partners sharing profits equally. A drew regularly Rs. 4,000 at the end of every month for six months ended 30th September, 2019. Calculate interest on drawings @ 5% p.a. for a period of six months. July 21, 2022
List any two items that need adjustments in books of accounts of a firm at the time of admission of a partner: – (i)Adjustment for Goodwill: (ii) Adjustment of Accumulated Profits, Reserves and Losses. A, B, C and D were partners in a firm sharing profits in the ratio of 4: 3: 2: 1. E brought Rs. 10,000 for his share of goodwill premium in cash which was correctly recorded in the books by the accountant. The accountant showed goodwill at Rs. 1,00,000 in the books. Was the accountant correct in doing so? Give reason in support of your answer. September 27, 2022