Nazma Ltd. received interest on an item and the accountant classified it under Investing Activity while preparing Cash Flow Statement. Name another item for which such a treatment is possible. Post category:Accountancy Reading time:1 mins read SOLUTION Dividend Received. 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 PostHider Ltd., a mutual fund company invested Rs. 5,00,000 in shares of Prayag Ltd. It received dividend of Rs. 45,000 during the year. How will it be depicted in the Cash Flow Statement? Next Post‘Shri Ltd.’ was carrying on a business of packaging in Delhi and earned good profits in the past years. The company wanted to expand its business and required additional funds. To meet its requirements the company issued equity shares of Rs. 30,00,000. It purchased a computerised machine of Rs. 20,00.000. It also purchased raw material amounting to Rs. 2,00,000. During the current year, the Net Profit of the company was Rs. 15,00,000. Find out ‘Cash Flow from Operating Activities’ from the above transactions. You Might Also Like What share of profits would a ‘sleeping partner’ who has contributed 75% of the Total Capital get in the absence of a deed? September 26, 2022 Dev withdrew & 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12 P.a. Calculate interest on Dev’s Drawings. July 21, 2022 What Journal entries would be passed for discharge of following unrecorded liabilities on the dissolution of a firm of partners A and B: (a) There was a contingent liability in respect of bills discounted but not matured of Rs. 18,500. An acceptor of one bill of Rs. 2,500 became insolvent and fifty paise in a rupee was recovered. The liability of the firm on account of this bill discounted and dishonoured has not so far been recorded. (b) There was a contingent liability in respect of a claim for damages for Rs. 75,000, such liability was settled for Rs. 50,000 and paid by the partner A. (c) Firm will have to pay Rs. 10,000 as compensation to an injured employee, which was a contingent liability not accepted by the firm. (d) Rs. 5,000 for damages claimed by a customer has been disputed by the firm. It was settled at 70% by a compromise between the customer and the firm. July 25, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
What share of profits would a ‘sleeping partner’ who has contributed 75% of the Total Capital get in the absence of a deed? September 26, 2022
Dev withdrew & 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12 P.a. Calculate interest on Dev’s Drawings. July 21, 2022
What Journal entries would be passed for discharge of following unrecorded liabilities on the dissolution of a firm of partners A and B: (a) There was a contingent liability in respect of bills discounted but not matured of Rs. 18,500. An acceptor of one bill of Rs. 2,500 became insolvent and fifty paise in a rupee was recovered. The liability of the firm on account of this bill discounted and dishonoured has not so far been recorded. (b) There was a contingent liability in respect of a claim for damages for Rs. 75,000, such liability was settled for Rs. 50,000 and paid by the partner A. (c) Firm will have to pay Rs. 10,000 as compensation to an injured employee, which was a contingent liability not accepted by the firm. (d) Rs. 5,000 for damages claimed by a customer has been disputed by the firm. It was settled at 70% by a compromise between the customer and the firm. July 25, 2022