Mention the net amount of ‘Source’ or ‘Use’ of cash when a fixed asset (having book value of Rs. 15,000) is sold at a loss of Rs. 5,000. Post category:Accountancy Reading time:1 mins read SOLUTION Source Rs. 10,000. 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 PostWhile preparing the Cash Flow Statement of Alka Ltd. ‘dividend paid was shown as an operating activity by the accountant of the company. Was he correct in doing so? Give reason. (C.B.S.E. 2015) Next PostMention the net amount of ‘Source’ or ‘Use’ of cash from the following: ‘Issue of shares for Rs. 16,00,000 against purchase of business comprising of Non-Current Assets Rs. 14,00,000, Current. Assets Rs. 4,00.000 and took over Current Liabilities at Rs. 2,00,000. (C.B.S.E. 2015). You Might Also Like A, B and C were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. B retired and his share was taken over by A and C equally. Calculate the gaining ratio. (C.B.S.E. 2019) October 8, 2022 What do you mean by Non-Redeemable Preference Shares? September 28, 2022 Prem and Manoj are partners in a firm sharing profits in the ratio of 3: 2. The Partnership Deed provided that Prem was to be paid salary of Rs. 2,500 per month and Manoj was to ger a commission of Rs. 10,000 per year. Interest on capital was to be allowed @ 5% p.a. and interest on drawings was to be charged @ 6% p.a. Interest on Prem’s drawings was Rs. 1,250 and on Manoj’s drawings was Rs. 425. Interest on Capitals of the partners were Rs. 10,000 and Rs. 7,500 respectively. The firm earned a profit of Rs. 90,575 for the year ended 31st March, 2018. Prepare Profit and Loss Appropriation Account of the firm. July 20, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C were partners in a firm sharing profits and losses in the ratio of 4: 3: 2. B retired and his share was taken over by A and C equally. Calculate the gaining ratio. (C.B.S.E. 2019) October 8, 2022
Prem and Manoj are partners in a firm sharing profits in the ratio of 3: 2. The Partnership Deed provided that Prem was to be paid salary of Rs. 2,500 per month and Manoj was to ger a commission of Rs. 10,000 per year. Interest on capital was to be allowed @ 5% p.a. and interest on drawings was to be charged @ 6% p.a. Interest on Prem’s drawings was Rs. 1,250 and on Manoj’s drawings was Rs. 425. Interest on Capitals of the partners were Rs. 10,000 and Rs. 7,500 respectively. The firm earned a profit of Rs. 90,575 for the year ended 31st March, 2018. Prepare Profit and Loss Appropriation Account of the firm. July 20, 2022
