If opening capitals of partners are A Rs. 3,00,000, B Rs. 2,00,000 and C Rs. 1,00,000 and their drawings during the year are A Rs. 50,000, B Rs. 40,000 and C Rs. 30,000 and creditors are Rs. 60,000, what will be the amount of assets of the firm? Post category:Accountancy Reading time:1 mins read SOLUTION Rs. 5,40,000 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 creditors are Rs. 25,000, capital is Rs. 1,50,000 and cash balance is Rs. 10,000, what will be the amount of sundry assets? Next PostIf total assets of a firm are Rs. 12,00,000 and total liabilities are Rs. 2,40,000, what will the capitals of P, Q and R if they share profits in the ratio of their capitals and profit-sharing ratio is 1: 2: 3. You Might Also Like Charles Ltd. earned a profit of Rs. 1,00,000 after charging depreciation of 20,000 on assets and a transfer to General Reserve of Rs. 30,000. Goodwill amortised was Rs. 7,000, and gain on sale of machinery was Rs. 3,000. Other information available is (changes in the value of Current Assets and Current Liabilities): trade receivables showed an increase of Rs. 3,000; trade payables an increase of Rs. 6,000; Prepaid expenses an increase of Rs. 200; and outstanding expenses a decrease of Rs. 2,000. Ascertain Cash Flow from Operating Activities. August 18, 2022 A holds 100 shares of Rs. 10 each on which he has paid Rs. 1 per share on application.B holds 200 shares of Rs. 10 each on which he has paid Rs. 1 and Rs. 2 per share on application and allotment respectively. C holds 300 shares of Rs. 10 each and has paid Rs. 1 on application, Rs. 2 on allotment and Rs. 3 on first call. They all fail to pay their arrears and the second call of Rs. 2 per share. Shares are forfeited and subsequently reissued @ Rs. 11 per share as fully paid-up. journalise the above July 14, 2022 Piya and Bina are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following was the Balance Sheet of the firm as on 31st March, 2016: July 22, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Charles Ltd. earned a profit of Rs. 1,00,000 after charging depreciation of 20,000 on assets and a transfer to General Reserve of Rs. 30,000. Goodwill amortised was Rs. 7,000, and gain on sale of machinery was Rs. 3,000. Other information available is (changes in the value of Current Assets and Current Liabilities): trade receivables showed an increase of Rs. 3,000; trade payables an increase of Rs. 6,000; Prepaid expenses an increase of Rs. 200; and outstanding expenses a decrease of Rs. 2,000. Ascertain Cash Flow from Operating Activities. August 18, 2022
A holds 100 shares of Rs. 10 each on which he has paid Rs. 1 per share on application.B holds 200 shares of Rs. 10 each on which he has paid Rs. 1 and Rs. 2 per share on application and allotment respectively. C holds 300 shares of Rs. 10 each and has paid Rs. 1 on application, Rs. 2 on allotment and Rs. 3 on first call. They all fail to pay their arrears and the second call of Rs. 2 per share. Shares are forfeited and subsequently reissued @ Rs. 11 per share as fully paid-up. journalise the above July 14, 2022
Piya and Bina are partners in a firm sharing profits and losses in the ratio of 3 : 2. Following was the Balance Sheet of the firm as on 31st March, 2016: July 22, 2022