List any two items of operating activities that are typical of and pertaining to Hotel Industry. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Cash collection from booking of rooms;(ii) Cash collection from providing room service. 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 PostList any two items of operating activities that are typical of and pertaining to Print Media. Next PostList any two items of operating activities that are typical of and pertaining to film production unit. You Might Also Like State one transaction which results in a decrease in ‘Debt-Equity Ratio’ and no change in ‘Current Ratio’. October 3, 2022 X and Y entered into partnership on 1st April, 2017. Their capitals as on 1st April, 2018 were Rs. 2,00,000 and Rs. 1,50,000 respectively. On 1st October, 2018, X gave Rs. 50,000 as loan to the firm. As per the provisions of the partnership Deed: (i) 20% of Profits before charging interest on Drawings but after making appropriations to be transferred to General Reserve. (ii) Interest on capital at 12% p.a. and Interest on Drawings @ 10% p.a. (iii) X to get monthly salary of Rs. 5,000 and Y to get salary of Rs. 22,500 per quarter. (iv) X is entitled to a commission of 5% on sales. Sales for the year were Rs. 3,50,000. (v) Profit to be shared in the ratio of their capitals up to Rs. 1,75,000 and balance equally. Profit for the year ended 31st March, 2019 before allowing or charging interest was Rs. 4,61,000. The drawings of X and Y were Rs. 1,00,000 and Rs. 1,25,000 respectively. Pass the necessary Journal entries relating to appropriation out of profit. Prepare Profit and Loss Appropriation Account and the Partners’ Capital Accounts. July 21, 2022 Balance Sheet of P, Q and R as at 31st March, 2019, who were sharing profits in the ratio of 5 : 3 : 1, was: July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
State one transaction which results in a decrease in ‘Debt-Equity Ratio’ and no change in ‘Current Ratio’. October 3, 2022
X and Y entered into partnership on 1st April, 2017. Their capitals as on 1st April, 2018 were Rs. 2,00,000 and Rs. 1,50,000 respectively. On 1st October, 2018, X gave Rs. 50,000 as loan to the firm. As per the provisions of the partnership Deed: (i) 20% of Profits before charging interest on Drawings but after making appropriations to be transferred to General Reserve. (ii) Interest on capital at 12% p.a. and Interest on Drawings @ 10% p.a. (iii) X to get monthly salary of Rs. 5,000 and Y to get salary of Rs. 22,500 per quarter. (iv) X is entitled to a commission of 5% on sales. Sales for the year were Rs. 3,50,000. (v) Profit to be shared in the ratio of their capitals up to Rs. 1,75,000 and balance equally. Profit for the year ended 31st March, 2019 before allowing or charging interest was Rs. 4,61,000. The drawings of X and Y were Rs. 1,00,000 and Rs. 1,25,000 respectively. Pass the necessary Journal entries relating to appropriation out of profit. Prepare Profit and Loss Appropriation Account and the Partners’ Capital Accounts. July 21, 2022
Balance Sheet of P, Q and R as at 31st March, 2019, who were sharing profits in the ratio of 5 : 3 : 1, was: July 26, 2022