State with reason whether ‘Old furniture written off would result into inflow / outflow or no flow of cash. Post category:Accountancy Reading time:1 mins read SOLUTION No flow. Old furniture written off does not involve cash. It is a non-cash item. 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 PostGive an example of the activity which remains financing activity for every enterprise. (C.B.S.E. 2020, Mumbai, Chennai) Next PostState with reason whether ‘Discount received on making payment to suppliers’ would result into inflow, outflow or no flow of cash. You Might Also Like Amrit Ltd. was promoted by Amrit and Bhaskar with an authorised capital of Rs. 10,00,000 divide into 1,00,000 shares of Rs. 10 each. The company decided to issue 1,000, 6% Debentures of Rs. 100 each to Amrit and Bhaskar each for their services in incorporating the company. Pass journal entry July 16, 2022 What are comparative financial statements? October 1, 2022 Mita and Usha are partners in a firm sharing profits in the ratio of 2 : 3. Their Capital Accounts as on 1st April, 2015 showed balances of Rs. 1,40,000 and Rs. 1,20,000 respectively. The drawings of Mita and Usha during the year 2015-16 were Rs. 32,000 and Rs. 24,000 respectively. Both the amounts were withdrawn on 1st January 2016. It was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March, 2016: (a) Interest on Capital @ 6% p.a. (b) Interest on Drawings @ 6% p.a. (c) Mita was entitled to a commission of Rs. 8,000 for the whole year. Showing your working clearly, pass a rectifying entry in the books of the firm. July 22, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Amrit Ltd. was promoted by Amrit and Bhaskar with an authorised capital of Rs. 10,00,000 divide into 1,00,000 shares of Rs. 10 each. The company decided to issue 1,000, 6% Debentures of Rs. 100 each to Amrit and Bhaskar each for their services in incorporating the company. Pass journal entry July 16, 2022
Mita and Usha are partners in a firm sharing profits in the ratio of 2 : 3. Their Capital Accounts as on 1st April, 2015 showed balances of Rs. 1,40,000 and Rs. 1,20,000 respectively. The drawings of Mita and Usha during the year 2015-16 were Rs. 32,000 and Rs. 24,000 respectively. Both the amounts were withdrawn on 1st January 2016. It was subsequently found that the following items had been omitted while preparing the final accounts for the year ended 31st March, 2016: (a) Interest on Capital @ 6% p.a. (b) Interest on Drawings @ 6% p.a. (c) Mita was entitled to a commission of Rs. 8,000 for the whole year. Showing your working clearly, pass a rectifying entry in the books of the firm. July 22, 2022