How will you treat Bank Overdraft in a Cash Flow Statement? (C.B.S.E. 2015) Post category:Accountancy Reading time:1 mins read SOLUTION Bank Overdraft is short-term borrowing and will be treated 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 PostUnder which type of activity will you classify ‘Commission and Royalty Received’ while preparing Cash Flow Statement? Next PostWhere will you show purchase of Goodwill in a Cash Flow Statement? You Might Also Like X, Y and Z are equal partners with capitals of Rs. 1,500; Rs. 1,750 and Rs. 2,000 respectively. They agree to admit W into equal partnership upon payment in cash Rs. 1,500 for 1/4th share of the goodwill and Rs. 1,800 as his capital, both sums to remain in the business. The liabilities of the old firm amounted to Rs. 3,000 and the assets, apart from cash, consist of Motors Rs. 1,200, Furniture Rs. 400, Stock Rs. 2,650 and Debtors Rs. 3,780. The Motors and Furniture were revalued at Rs. 950 and Rs. 380 respectively. Pass Journal entries to give effect to the above arrangement and also show Balance Sheet of the new firm. August 1, 2022 What is meant by Sacrificing Partners? September 26, 2022 On dissolution of a firm, where are assets shown in the balance sheet transferred? September 27, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X, Y and Z are equal partners with capitals of Rs. 1,500; Rs. 1,750 and Rs. 2,000 respectively. They agree to admit W into equal partnership upon payment in cash Rs. 1,500 for 1/4th share of the goodwill and Rs. 1,800 as his capital, both sums to remain in the business. The liabilities of the old firm amounted to Rs. 3,000 and the assets, apart from cash, consist of Motors Rs. 1,200, Furniture Rs. 400, Stock Rs. 2,650 and Debtors Rs. 3,780. The Motors and Furniture were revalued at Rs. 950 and Rs. 380 respectively. Pass Journal entries to give effect to the above arrangement and also show Balance Sheet of the new firm. August 1, 2022
On dissolution of a firm, where are assets shown in the balance sheet transferred? September 27, 2022