Write two items of credit side of Current Accounts. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Interest on Capital, (ii) Share of Profit. 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 PostWhat is partner’s Current Account? Next PostWrite two items of debit side of Current Accounts. You Might Also Like Compute Gross Profit Ratio from the following information: Revenue from Operations, i.e., Net Sales : Rs. 4,00,000; Gross Profit 25% on Cost. August 16, 2022 List any two financing activities that will result into outflow of cash. October 4, 2022 The partnership between A and B was dissolved on 31st March, 2019. On that date the respective credits to the capitals were A − Rs. 1,70,000 and B − Rs. 30,000. Rs. 20,000 were owed by B to the firm; Rs. 1,00,000 were owed by the firm to A and Rs. 2,00,000 were due to the Trade Creditors. Profits and losses were shared in the proportions of 2/3 to A, 1/3 to B. The assets represented by the above stated net liabilities realise Rs. 4,50,000 exclusives of Rs. 20,000 owed by B. The liabilities were settled at book figures. Prepare Realisation Account, Partners’ Capital Accounts and Cash Account showing the distribution to the partners. July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Compute Gross Profit Ratio from the following information: Revenue from Operations, i.e., Net Sales : Rs. 4,00,000; Gross Profit 25% on Cost. August 16, 2022
The partnership between A and B was dissolved on 31st March, 2019. On that date the respective credits to the capitals were A − Rs. 1,70,000 and B − Rs. 30,000. Rs. 20,000 were owed by B to the firm; Rs. 1,00,000 were owed by the firm to A and Rs. 2,00,000 were due to the Trade Creditors. Profits and losses were shared in the proportions of 2/3 to A, 1/3 to B. The assets represented by the above stated net liabilities realise Rs. 4,50,000 exclusives of Rs. 20,000 owed by B. The liabilities were settled at book figures. Prepare Realisation Account, Partners’ Capital Accounts and Cash Account showing the distribution to the partners. July 26, 2022
