What is meant by Calls-in-Advance? Post category:Accountancy Reading time:1 mins read SOLUTION Calls in advance refers to the amount which has not been called by company but has been paid by some shareholders in advance. 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 PostHow are Calls-in-arrears shown in the Balance Sheet? Next PostHow are Calls in Advance shown in the Balance Sheet? You Might Also Like Pass journal entries in the following cases: (a) Rohit Ltd. issued Rs. 40,000; 12% Debentures at a premium of 5% redeemable at par. (b) Virat Ltd. issued Rs. 40,000; 12% Debentures at a discount of 10% redeemable at par. (c) Rahul Ltd. issued Rs.40,000; 12% Debentures at par redeemable at 10% premium. (d) Prithvi Ltd. issued Rs. 40,000; 12% Debentures at a discount of 5% and redeemable at 5% premium. (e) Shikhar Ltd. issued Rs. 40,000; 12% Debentures at a premium of 10% redeemable at 110%. July 18, 2022 Mandeep, Vinod and Abbas are partners sharing profits and losses in the ratio of 3: 2: 1. From 1st April, 2022 they decided to share profits equally. The Partnership Deed provides that in the event of any change in profit-sharing ratio, goodwill shall be valued at three years’ purchase of average profit of last five years. The profits and losses of past five years are: Profit: Year ended 31st March, 2018: Rs. 1,00,000; 2019: Rs. 1,50,000; 2021: Rs. 2,00,000; 2022: Rs. 2,00,000. Loss: Year ended 31st March, 2020: Rs. 50,000. Pass the Journal entry showing the working. October 18, 2022 Total Debt Rs. 15,00,000; Current Liabilities Rs. 5,00,000; Capital Employed Rs. 15,00,000. Calculate Total Assets to Debt Ratio. August 12, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Pass journal entries in the following cases: (a) Rohit Ltd. issued Rs. 40,000; 12% Debentures at a premium of 5% redeemable at par. (b) Virat Ltd. issued Rs. 40,000; 12% Debentures at a discount of 10% redeemable at par. (c) Rahul Ltd. issued Rs.40,000; 12% Debentures at par redeemable at 10% premium. (d) Prithvi Ltd. issued Rs. 40,000; 12% Debentures at a discount of 5% and redeemable at 5% premium. (e) Shikhar Ltd. issued Rs. 40,000; 12% Debentures at a premium of 10% redeemable at 110%. July 18, 2022
Mandeep, Vinod and Abbas are partners sharing profits and losses in the ratio of 3: 2: 1. From 1st April, 2022 they decided to share profits equally. The Partnership Deed provides that in the event of any change in profit-sharing ratio, goodwill shall be valued at three years’ purchase of average profit of last five years. The profits and losses of past five years are: Profit: Year ended 31st March, 2018: Rs. 1,00,000; 2019: Rs. 1,50,000; 2021: Rs. 2,00,000; 2022: Rs. 2,00,000. Loss: Year ended 31st March, 2020: Rs. 50,000. Pass the Journal entry showing the working. October 18, 2022
Total Debt Rs. 15,00,000; Current Liabilities Rs. 5,00,000; Capital Employed Rs. 15,00,000. Calculate Total Assets to Debt Ratio. August 12, 2022