If a fixed amount withdrawn on 15th day of every month, for what period the interest on total Drawings will be calculated? Post category:Accountancy Reading time:1 mins read SOLUTION 6 months. 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Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostIf a fixed amount is withdrawn on the first day of every month, for what period the interest on total drawings will be calculated? Next PostIf a fixed amount is withdrawn on the last day of every month, for what period the interest on total drawings will be calculated? You Might Also Like State giving reason, whether the Current Ratio will improve or decline or will have no effect in each of the following transactions if Current Ratio is 2: 1 (a) Cash paid to Trade Payables. (b) Bills Payable discharged. (c) Bills Receivable endorsed to a creditor. (d) Payment of final Dividend already declared. (e) Purchase of Stock-in-Trade on credit. (f) Bills Receivable endorsed to a Creditor dishonored. (g) Purchases of Stock-in-Trade for cash. (h) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 45,000. (i) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 60,000. August 12, 2022 Madan and Gopal are partners sharing profits in the ratio of 3 : 2. They admit Sooraj for 1/3rd share in profits on 1st April, 2019. They also decide to share future profits equally. Goodwill of the firm was valued at Rs. 5,50,000. Goodwill existed in the books of account at Rs. 1,00,000, which the partners decide to carry forward. Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of Sooraj, if: (a) Goodwill is not to be raised and written off; and (b) Goodwill is to be raised and written off. August 1, 2022 X and Y are partners sharing profits equally. Their Balance Sheet as on 31st March, 2019 is given below : August 2, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
State giving reason, whether the Current Ratio will improve or decline or will have no effect in each of the following transactions if Current Ratio is 2: 1 (a) Cash paid to Trade Payables. (b) Bills Payable discharged. (c) Bills Receivable endorsed to a creditor. (d) Payment of final Dividend already declared. (e) Purchase of Stock-in-Trade on credit. (f) Bills Receivable endorsed to a Creditor dishonored. (g) Purchases of Stock-in-Trade for cash. (h) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 45,000. (i) Sale of Fixed Assets (Book Value of Rs. 50,000) for Rs. 60,000. August 12, 2022
Madan and Gopal are partners sharing profits in the ratio of 3 : 2. They admit Sooraj for 1/3rd share in profits on 1st April, 2019. They also decide to share future profits equally. Goodwill of the firm was valued at Rs. 5,50,000. Goodwill existed in the books of account at Rs. 1,00,000, which the partners decide to carry forward. Sooraj is unable to bring his share of goodwill. Pass the necessary Journal entries on admission of Sooraj, if: (a) Goodwill is not to be raised and written off; and (b) Goodwill is to be raised and written off. August 1, 2022
X and Y are partners sharing profits equally. Their Balance Sheet as on 31st March, 2019 is given below : August 2, 2022
