When is interest received considered as financing activity? Post category:Accountancy Reading time:1 mins read SOLUTION Interest received on Calls-in-arrear by a Company is considered as financing activity.. 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 PostWhen is dividend received considered as operating activity? Next Post“Loans and advances granted’ by a company will be considered, as which type of activity while preparing Cash Flow Statement. (C.B.S.E. 2018, Comptt.) You Might Also Like 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 What is the ideal Quick Ratio? October 1, 2022 Distinguish between ‘Dissolution of Partnership’ and ‘Dissolution of Partnership Firm’ on the basis of ‘Court’s intervention’. (CBSE 2019) October 8, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
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
Distinguish between ‘Dissolution of Partnership’ and ‘Dissolution of Partnership Firm’ on the basis of ‘Court’s intervention’. (CBSE 2019) October 8, 2022